Urgent Short Term Loans When a Receiver or Administrator Is Appointed

They can, where the numbers work. One loan can be secured by more than one property, with our 70% limit worked out across all of them, so equity in the other two properties can make up a payout figure the showroom cannot cover on its own. Ask your solicitor to check whether the bank's mortgages also cover the other two properties, because the bank's payout figure may include every loan it holds with your company, not only the showroom loan. Then send us that written figure and the details of all three properties.

• →Refinancing a lender that has appointed a receiver

It can, where the full figure fits inside 70% of the property's value. Ask the bank for a written payout figure that includes the receiver's costs to date and an estimate to the settlement date, because the bank and the receiver set that figure. We funded a $3.685 million loan that repaid a lender that had appointed a receiver, and the owner then sold the property on their own terms. Your lawyer and the receiver need to confirm who signs, and we confirm it with them before we issue terms.

• →$3.685 million to repay a lender that had appointed a receiver

It may not be too late, but it depends on how far the sale has gone. Before the receiver signs a contract with a buyer, repaying the appointing lender in full can remove the reason for the sale. After a contract is signed, a refinance may no longer stop it, and your lawyer needs to advise. Three weeks is enough time for us to value the property and give you terms if you start now. Send us the payout figure and the date the campaign closes.

A related company can put an offer to the receiver, and the receiver decides whether to accept it. Receivers have legal duties about how they sell, and a sale to a related party raises its own questions, so your lawyer should advise before you make the offer. For the purchase, we can lend to your existing company within 70% of the lower of our valuation and the price, secured by the factory property or other property. Receivers set their own settlement timetables, so send us the terms of sale as soon as you have them.

• →Urgent loans to buy distressed property

Yes, your business can borrow against its property, but the repayment plan cannot rely on the administrator's payment. Creditors do not know what they will receive, or when, until the creditors have decided the company's future and a dividend is paid, so we look for a repayment source with a date, such as a property sale, a bank refinance or a documented payment from another customer. Send us the property details, the supplier invoices and your repayment plan. Lodge your claim with the administrator as well.

It can, where the loan fits inside 70% of the property's value. We value the property as it stands, and a vacancy can reduce that value, so the amount available may be lower than it was with the tenant paying rent. The repayment plan can be a bank refinance once a new lease is signed, or a sale. Ask the administrator whether it intends to keep or end the lease, and send us that answer with the bank's letter.

• →Refinance business loans

Yes, where the numbers work. We lend to your business within 70% of the lower of our valuation and the price, and settlement can follow within 24 hours of signing the letter of offer. Send us the administrator's terms of sale and settlement date on the day you receive them, so the valuation is booked before the contract is signed. The administrator sets the date and does not have to move it for a buyer's finance.

Yes, we will look at it. Our assessment centres on the property offered as security, a loan within 70% of its value and a dated plan for repaying us, so tell us what happened in the receivership and how it ended. Send the property details, the purpose of the loan and the repayment plan, and we can give you an answer within hours.

Your accountant and lawyer need to answer that before you borrow, because we are a lender and do not give insolvency advice. They will look at questions such as the directors' duties about insolvent trading, and whether a payment to one creditor could later be challenged by a liquidator. If they confirm a refinance makes sense, we look at the property, a loan within 70% of its value and a dated plan for repaying us.

About $340,000 on last year's value. 70% of $4,200,000 is $2,940,000, which is $340,000 more than the $2,600,000 payout figure, before the receiver's further costs and default interest are added. We lend on our own valuation, not the bank's figure from last year, so the room could be larger or smaller. Ask the bank for a payout figure to a specific settlement date, and send it with the property details.

We need to learn your scenario further. Once a deed has been completed and the company is back under the directors' control, a refinance is something we can look at, and what decides it is the property, a loan within 70% of its value and a dated plan for repaying us. Send us the administrator's confirmation that the deed has been completed, the bank's payout figure and the property details.

• →Debt restructuring

We need to learn your scenario further. It depends on what the loan is for and what the receiver was appointed over. We lend to companies, not to individuals, and we confirm with your lawyer who needs to sign before we issue terms.

No. While a company is in voluntary administration, the administrator controls its business and property, and the directors cannot use their powers.

Yes, where the property supports the loan. Our loan repays the secured lender at settlement. We do not give insolvency advice, and we can connect you with insolvency specialists in our network about what that repayment means for the receiver's appointment.

Yes, where the company is the borrower. A director's home or investment property can secure a loan to the company once the directors are back in control, and the total borrowing must stay within 70% of the property's value. Speak with your accountant or solicitor before you offer it.

The deed is signed about 8 weeks after the appointment. The second creditors' meeting is held within 25 business days, and a deed approved there must be signed within 15 business days or the company goes into liquidation. Ask the administrator when a contribution has to be paid.

No. We only lend, and we give no insolvency advice. Your accountant, a registered liquidator or your solicitor can advise you on the appointment and on what a loan would mean for the company.

Same-day settlement is possible once the loan documents are signed, depending on your scenario. A lawyer's review of our documents is often the longest step, so we send them early.

• →$250,000 in 24 hours while an ATO wind-up was under way
• →$3.2 million funded in 24 hours
• →$3 million second mortgage settled in 48 hours at the last minute

Yes. When a deed is completed and the directors regain control, the business often needs cash for stock, staff and suppliers. We lend for working capital to businesses in construction, hospitality, manufacturing and other industries.

• →Manufacturing lending
• →Working capital loans