We were approached by an accountant for urgent funding as his client was served with a winding up notice for an outstanding debt owed to the ATO.
If his client failed to pay $250,000, his company would be placed in liquidation in 2 days time.
The Accountant approached a number of lenders, however, they were experiencing significant delays due to valuation timeframes, condition precedents and upfront costs to proceed to settlement.
Within 24 hours, Secured Lending funded the Client and the winding up application was dismissed.
Our loan was secured by a second mortgage over the Directors property and our client is now in the process of refinancing our loan.
We also have a team of in-house property experts that can approve loans in a matter of hours and settle the next day.