Client was seeking finance to purchase two commercial development sites; one in NSW and one in QLD. Land valuation was circa $9.0 million. The client had a complex entity structure that seemed to fall outside of normal banking policy parameters. Existing bank could not assist on the 11th hour. Client had only 6 weeks to complete contractual arrangement.
RSP worked closely with the client and another major domestic bank to identify all the major issues and structured an agreement to mitigate these issues to ensure a funding approval was obtained. Settlement of $4.43 million went through on schedule.