WHAT IS PRIVATE LENDING?
Reesby & Company is involved in private lending transactions from $500,000 to in excess of $20 million.
We have provided over $1 billion of private mezzanine type funding via our internal finance companies over the past 14 years. This has been on first mortgage, second mortgage, mezzanine finance and an equity basis.
Our primary lending vehicle, Spinnaker Capital Limited, provides development and investment finance for commercial, retail, industrial, residential and prime land transactions throughout New Zealand (visit www.spinnakercapital.co.nz).
Currently we have a number of substantial private investors who are able to provide mezzanine finance for the right project.
A number of borrowers are currently finding it difficult to secure development and investment funding from traditional sources. These are generally good borrowers who temporarily do not meet the banks credit criteria primarily relating to a level of vacancy in their commercial property or lack of presales in residential development. We have internal and external funding sources able to provide this funding.
Because we are a private company, our credit process is very prompt. We communicate with our borrowers so they understand the terms necessary to obtain the funding. This can be a two day approval when urgently required.