The Borrower requested $2.965m in funding to assist with the purchase of a future private school site in Two Rocks from the vendor wanting urgent payment. The ten-month facility provided sufficient time for the Borrower to arrange long-term finance from the WA State Government’s Low-Interest Loan Scheme. The loan will be secured by registered first mortgages over three primary properties, second mortgages over four other properties and a bank guarantee. The total loan security is valued at $4.690m, ensuring a 63% loan to value ratio at the inception of the facility.

The loan is expected to be repaid via the Low-Interest Loan Scheme (LILS), an initiative of the WA State Government to assist non-government schools in funding capital development projects including land acquisition, new building construction and upgrading established facilities.