The Situation
A borrower required urgent cash out for the purchase of stock.
The borrowers were in a distressed state as they were going to lose the stock unless payment was made within 3 days. The clients had a strong asset portfolio but limited cash flow to assist with their purchase.
The Solution
Within 2 days, NWC paid out the first mortgage against the borrower’s commercial building and residential property to raise the extra funds required and assist with their purchase of stock.
The Outcome
Stock was purchased on time and the client’s business continued to operate profitably. The clients exit strategy was a combination of sale of purchased stock and refinance. At the maturity of the term, NWC debt was paid through their business cash flow, from the sales and refinance to a tier one lender.