PMG Finance has access to financiers who can arrange finance when equipment is being constructed, and progress payments are required by the manufacturer at various stages during construction.
Also known as“Escrow Facilities” repayments during this time are interest only on the outstanding balance, charged monthly in arrears. Once construction is complete, the facility is converted to either a lease or Specific Security Agreement (formerly Chattel Mortgage) depending on the borrower’s requirements.
Security (subject to credit approval) is the asset being financed with no reliance on property security, or other bank held security such as a fixed and floating charge.
Need more information? – Contact us today!