Client based in the ACT is an experienced and qualified builder, who required the loan to acquire bare land and to construct a home for sale. Although the client has an established track record of successfully delivering projects over the last decade, they were unable to obtain funding from a traditional banking institution.
Xceda provided the approval within 48 hours subject to documentation, and was able to settle the loan for the Borrower within 10 days of the initial application. Given the Borrower company’s proven profitability and consistency, Xceda was able to offer a 12 month interest only loan with the option of converting to a three year principle and interest structure thereafter.
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