COVID
uncertainty
in Noble Park.

Senior Debt, $20m
Case Study by Tom W

Local Developer
Industrial

When the going gets tough, Jadig’s got your back. We know that life has a way of throwing curveballs. As a business where family is at the heart of everything we do, the same network of mutual support that underpins our organisation extends to our clients. That’s why we reached out to help a local developer who needed an urgent loan to settle on a 4.44 hectare, $20M industrial parcel on Princes Highway.

Just weeks after Melbourne had spiralled into a period of enormous uncertainty and pessimism in the wake of 2020’s harsh COVID restrictions, our clients knew they were in trouble. Although they desperately needed finance to settle on the property in Noble Park, they were gun-shy about the dangers of signing up with a lender of last resort. That is not who we are as lenders. To reassure them, we met with them on site and talked through their concerns. To us, this is just part of how we do business. We’re all about relationships and making a personal connection with our clients so we can make sure that we give them exactly what they need, when they need it.

At Jadig, we want to make our clients’ lives easier. We do this by being agile and responsive. In property, where speed is everything, this is the sweet spot. With settlement looming, we relaxed our pre-conditions on tax returns, guarantor credit, and sponsor financial statements. Even in light of grave market uncertainty, Jadig provided indicative terms within 48 hours and settled the transaction in less than a month. In addition, we also financed interest for an 18-month period because there were some concerns about the property’s leasing arrangement during the existing economic climate.