Short term Loans are exactly that. Short Term. They are designed to provide borrowers access to capital in a quick time frame for defined periods. Whilst extensions are available the lender must be satisfied that the borrower can repay the loan within the approved time frame.
The method of repayment must be nominated and if required evidence to support the plausibility of the exit strategy.
Some acceptable Exit Strategies are detailed below:
• Refinance
• Sale of property
• Sale of Shares
Interim Finance will require all borrowers to provide in written detail the proposed exit strategy for the repayment of the loan.
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