Senior Debt loan $2m for urgent site refinance at 65% LVR

Senior Debt loan $2m for urgent site refinance at 65% LVR

Background DFP had been engaged by the borrower to obtain construction finance for a development site located in Cheltenham that they already owned. During the process the borrower was advised by their existing lender that they would be unable to extend their existing loan term to accommodate any gap in settlement to allow construction finance to be procured and settled and that they had 6 business days from the date of the letter to refinance the site otherwise would be liable for $60,000 in default interest. The borrower urgently notified DFP to arrange immediate bridging finance to take out the

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