ANYONE HAVE EXPERIENCE RAISING DEBT FINANCING IN AUSTRALIA?
I've identified a potential acquisition target for my fund in Australia and am currently looking to source senior debt for around 50% of the purchase price. The vendor is asking $1.1m for the business which is currently generating adjusted EBITDA of approx. $550k.
Most banks in Australia are very reluctant to lend to SMEs unless they can secure the loan against real estate. Anyone have any relevant experience they can share or any banks/contacts they can recommend?