Car Dealership Premises: Urgent Short Term Loans Separate From Your Floor Plan

It does not stop us assessing the refinance. Our loan sits apart from the floor plan and is secured by the dealership property alone, and it repays the bank at settlement where the payout figure fits within 70% of our valuation. Send us the bank's letter and its written payout figure. Ask your solicitor whether the floor plan lender's documents give it any rights over the property, because that affects the refinance.

• →Refinancing a lender that has appointed a receiver

About $1.7 million. 70% of $6 million is $4.2 million, and with $2.5 million owing that leaves about $1.7 million. That can be a second mortgage behind the bank, from 11.95% p.a., or a first mortgage that repays the bank and adds the new money, from 9.7% p.a. Either way, the floor plan stays with its own lender.

• →Second mortgage finance

Yes. The adjoining property can be bought with a first mortgage over it, and your current dealership property can be added as security for the deposit and costs, within 70% across both. Check that the zoning allows a vehicle showroom before you exchange. Send the contract and the manufacturer's letter of appointment with your enquiry.

Yes. We lend up to 70% of the lower of the assessed value and the price on the new premises, and other property, such as a director's home, can be added to cover the deposit and costs. Confirm with the council that the new property can be used as a car showroom and workshop before you exchange, and send us the contract once you have it.

Yes. A tax debt on its own is not a reason we decline. The loan is secured by the dealership property or a director's home, the funds are paid to the business, and the business pays the ATO in full. The repayment plan, such as a bank refinance or a property sale, is agreed before settlement.

• →Urgent ATO debt loans

Yes. Our loan is separate from the floor plan, so we can repay the bank's property loan from its payout figure and leave the floor plan where it is. The new loan must stay within 70% of the dealership property's value. The term gives you time to arrange a long-term loan once sales recover.

• →Refinance business loans

It can. We lend on the freehold property, so on a $6 million property price we can lend up to $4.2 million, if our valuation agrees. Whether the business sale can complete before the manufacturer approves the new owner is a question for your solicitor and the contract. Send the contract and the manufacturer's correspondence, and we will work to the settlement date.

• →Urgent business acquisition loans

It can affect the amount, not whether we lend. A showroom built to one brand's design has fewer buyers, and our in-house valuer takes that into account along with what the land and building could be used for if it were sold. Send the building plans and the zoning, and we will tell you what the property supports.

It can. We lend on the dealership properties the group owns, within 70% of their combined value, and the funds are paid to the borrowing business. The repayment plan could be a bank refinance once the third site is sold or closed, or the sale of that site's property if the group owns it. Send the values and the loan balances for each site.

Yes. 70% of $1.2 million is $840,000, and with $400,000 owing there is room for about $440,000, so $350,000 fits. That would be a second mortgage over the investment house, from 11.95% p.a. The fit-out money is paid to the business as a lump sum at settlement, not in stages.

It can. The loan is secured by the dealership property or a director's home, the funds are paid to the business, and the business makes the payment to the floor plan lender. The repayment plan, such as a bank refinance or a property sale, is agreed before settlement. Ask your floor plan lender in writing what limit it will offer once the $600,000 is paid.

• →Dealership finance from a private lender

No. Your floor plan stays with its own lender, and our loan is separate from it. We ask about the floor plan because its lender may need to know about a new mortgage over the premises.

Yes. We can fund the refurbishment or fit-out as a lump sum at settlement, within 70% of the premises' value. Progress payments to a builder are not something we fund. Send the manufacturer's requirements and the quote with your enquiry.

Yes. Buying the site you lease removes the risk of a new owner or a rent review, and we work to the landlord's timetable.

No. Vehicles, parts stock and the dealer agreement are never the security. We lend only on real property.

It may, depending on the security it holds over the business. Check your floor plan agreement, and we will work with your floor plan lender if its consent is needed.

Yes. Selling the premises to an investor and leasing them back is one way to repay us, and it releases the capital held in the property.

Same-day funding is possible for a premises purchase, depending on your scenario. If the manufacturer's deadline is months away, calling early lets us value the premises and agree terms well before it.

• →$3.2 million funded within 24 hours
• →$1.2 million second mortgage funded within 24 hours
• →$800,000 in 48 hours for a transport business's new contract

Yes. We lend for working capital to dealerships, retailers and transport businesses, including staff, marketing and workshop costs. It sits alongside your floor plan, not in place of it.

• →Retail lending
• →Working capital loans