Client Position:
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 Solution:
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.
