Purpose: Acquiring a pharmacy, refinancing an existing wholesaler guaranteed loan, business expansion including purchase of freehold. Improvements and shop refits, superannuation contributions (non-wholesaler loans only unless otherwise approve the wholesaler)
Maximum Loan Amount:
Existing: Up to 75% of going concern valuation by bank instructed Value.
Greenfield: Up to 60% of purchase price or forecast going concern valuation by instructed Value.
Max. Loan Term: 10 years
Wholesaler guaranteed: Master Guarantee from wholesaler.
Non Wholesaler guaranteed loans:
- Firm / Partnership: Mortgage over freehold or leasehold , Bill of Sale (or equivalent) over business assets,
- Company: Fixed & Floating Charge, Directors ‘ Term insurance to a minimum 50% of borrowing.