Quantum Credit is a reputable Perth-based company offering mortgage-backed short term business loans – as well as short term investment loans – to borrowers who require urgent funding for business investment or expansion. This includes for commercial property development, bridging loans, shareholder buyouts, debt refinancing, construction completion, working capital and more.
A property developer needed to secure a commercial property for redevelopment in WA. While the property was tenanted and therefore income earning, it had a better use when redeveloped. Funding for the redevelopment phase had already been secured in principle from a bank, subject to a planning approval adjustment and presales. To provide the developer with the time required, Quantum Credit extended a six month loan to acquire the property and secured the loan by first mortgage over the target property as well as second mortgages over three separate residential properties. The loan was settled out of the proceeds of other development projects.