Merx

It doesn’t matter how smart you are, in business, the ‘dumb tax’ (as Keith J Cunningham puts it) is an ever-present possibility… Looking for your next read or listen? Check out The Road Less Stupid - some interesting perspectives and questions to ponder for all kinds of businesses.

A common question we get asked: "Are your loans secured?"

Short answer: Yes. All loans in the Merx Wholesale 1 PIE Trust are backed by security against local business and property assets.

Here's how we combine rigorous assessment with strong security measures to protect our investments and minimise risk: https://tinyurl.com/yneuf3p8

Our experience ensures not only a fast answer, but a tailored solution that works with your needs. Here's a recent example:

Why did this client need our funding: Purchasing a property with development potential. This client planned to reposition and redevelop the property with the addition of new units, before reselling it for a good profit margin. Their mainstream lender was reluctant to rely on sale of the property for loan servicing and repayment.

Amount: $1,040,000
Industry: Property development
Location: South Auckland
LVR: 80%
Type of security: First mortgage on the client’s property.
Path to repayment: Completion and sale of the project.

Why Merx: Following our assessment, we recognised the potential of the client’s project and stepped in with a tailored solution. We decided to help with a first-mortgage loan at 80% of the purchase price.

Like to find out more or talk to Merx about property finance requirements? Go
to www.merx.co.nz or call 09 215 9364.

What steps can you take today to reignite your motivation? Check out these tips.

What To Do When You Are Feeling Unmotivated Another reason we don’t take action is apathy. This lack of caring often originates in one of two extremes: hopelessness and pride.

Sometimes, fitting into the banks' mould can make it challenging to get a project across the finish line. That's where our 'outside the box' approach can really help get projects moving. Here's a recent example:

Why did this client need our funding: Funding needed to complete a small residential townhouse project. This client felt their bank was tying them up in excessive red tape, so they approached Merx for a solution.

Amount: $1,500,000
Industry: Property development
Location: Auckland
LVR: 55% on completion
Type of security: First mortgage on the new townhouse development and second mortgage security on the broader portfolio.
Path to repayment: Refinance once the investment units are complete and rented.

Why Merx: The client’s bank were looking to impose the same conditions you’d expect for funding a $50 million project, i.e., pre-sales, full quantity surveyor review and monitoring, etc. We provided a more pragmatic approach – Simplified Project Funding – advancing funds on a progressive basis so this experienced property owner could get moving.

Like to find out more or talk to Merx about property finance requirements? Go
to www.merx.co.nz or call 09 215 9364.

We understand business, can spot an opportunity for growth, and invest in success with purpose-fit finance. If you're looking to expand your business, reach out to us: https://tinyurl.com/59dtdpu8