Long Term Loan Coordinator (LTLC) is a program run by the Bishop and Knights for those who seek long term business loans and those who have funds to invest on long term investment loans.
Long term loans are loans secured by first or second mortgage on real estate properties in Australia and/or mortgage on the business itself. The lendr must have at least $10,000 or more to invest. The money is kept in lendr’s own bank account until security documents are filed on lender’s behalf (the lender as the mortgagee). The lender then deposits the money directly in borrower’s account. Lender receives between 9 - 25% per annum for the investment until the money is paid back by the borrower.
The lender pays no service fees, no account fees, no stamp duties or no mortgage filling costs. All these are paid by the borrower.
How it works:
- Borrower contact us for a loan and we principally agree to provide the loan
- We contact the lender to make sure that he is in the position to provide the loan
- We undertake a comprehensive research on the business.
- If the business proved to be sound, we contact the borrower and he will pay valuation fee and other fees to us.
- We arrange the valuation and make sure that sufficient equity is available to provide the loan without any risk
- Borrower then provides all other documents such as bank account details, identity and any other relevant documents. We verify all the details provided and perform risk assessment.
- We forward all these information to the lender, and the lender approves the loan
- Then the borrower signs the mortgage and loan agreement and we pay the stamp duty and file the mortgage documents at the relevant land registry.
- Lender receives the stamped copy of the mortgage and the executed loan agreement.
- The lender then deposits the money in the borrower’s account
- The borrower will re pay the principle and interest as agreed. In the event that the borrower fails to meet this dead line the lender is entitled to receive further interest.
Call us or contact us for a confidential discussion: 1300 229 672