PSAL Limited
Call(07) 5532 3450 - short term cavent lenders
PSAL Limited is a public unlisted company with it's own funds under management, we are able to quickly assess each application (initially verbally over the phone if required) in a very fast and efficient manner and then at the same time give you a short answer on the likely approval.
We are in the business of lending money, so we want your business, whilst we are primarily an asset lender, we still need to ensure to our own satisfaction that your proposed loan does make good commercial sense for both PSAL Limited & yourself, hence why we need you to provide a minimum amount of information so that we can assess the loan application as quickly as possible.
There are NO UPFRONT FEES, we capitalise all costs of the loan as a standard procedure, all brokerage fees and charges are paid to the broker at settlement of the loan. Valuation fees are the only thing that you will need to pay for when it is required prior to loan approval or settlement, if an acceptable valuation has already been done on the security property and is able to be re-assigned to us, then this will normally be sufficient.
All loans must be secured by some form of property or asset, security requirements differ depending upon the type of loan being applied for, the term of the loan and the credit history of the borrower. We accept 1st, 2nd & 3rd Mortgages, Caveats and or a Bill's of Sale over property where the Loan to Value Ratio (LVR) is acceptable to us for that particular type of security.
Our loans are generally short term from one to six months, minimum term is one month.
Interest rates are set on a loan by loan basis, valuation, security type and location of security are the primary key indicators that will determine the rate for a particular loan.
Click here to download an Application form
| Borrowing Entities: | Individuals, Partnerships, Companies & Trustees. |
| Eligible Locations: | Queensland, New South Wales, Victoria, Australian Capital Territory, South Australia, Western Australia, Tasmania & Northern Territory. |
| Loan Purpose: | Must be for Business or Investment purposes only, you will be required to outline what the funds are being borrowed for. |
| Loan Term: | Minimum loan term is One (1) month with a Maximum loan term of Six (6) months, usually your method of “take-out” (repayment of the loan) will govern this period. |
| Loan Amounts: | Minimum of $20,000 with a maximum of $400,000. |
| LVR (Loan to Value ratio): | The LVR that PSAL Limited will accept is normally negotiated on a case-by-case basis and will be dependent on security location, exit strategy and general deal strength, normally must be under 80%. |
| Time Frame: | The speed of the information being supplied to PSAL Limited is the prime governing factor as to the time it takes to assess & process loans, if all information is supplied & found to be satisfactory, loans can be processed with two days, this we have done many times. |
| Capitalised Fees & Costs: | PSAL Limited will capitalise all costs including Interest, Legals, Stamp Duty, Application Costs, Loan & Research Fees, however Valuation costs will not be capitalised into the loan, you will need to pay for these yourself if PSAL Limited require a valuation. |
| Valuations: | PSAL Limited normally accept a previous valuation done within the last six months, rarely do we require a new valuation of the security, in the absents of the valuation we ask that you to provide us with at least two, prefer three real-estate appraisals for each security being provided. |
| Credit File: | Whilst a credit check will be done on each of the applicants, any anomalies will require explanation. |
| Security Required: | Real Estate as an absolute minimum, Commercial, Residential & Rural Properties, these can be bolstered by things such as vehicles, boats, planes, pending irrevocable commissions, licences (eg fishing), guarantees from third parties, etc. |
| Interest Rate: | From 5.00% per month. |
| Documents required: | Where applicable here is a list of the types of information that you will be required to provide;
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| Insurance: | All securities must have a current insurance policy, a certificate of insurance will need to be provided to PSAL Limited showing PSAL Limited as having a financial interest in each security on the policy if the loan proceeds, expiry date of the policy must also at least two (2) months post the proposed loan period. |
| Fees & Costs: | Our standard fees broken down for most loans are as follows;
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| Early Repayment | There is no reduction for early repayment, therefore it is best to only apply for the funds for the period you require, this can be discussed with PSAL Limited at the time of application. |
| Partial Repayment | Loan are able to be repaid in part, however there will be no reduction of interest & fees. |
| Loan Extensions | Loan can with prior to expiry be extended / rolled over for another term or period, you will need to be able to request such an extension/rollover prior to the expiry date of the loan otherwise the loan will be in default and PSAL Limited will commence recovery action. |