Product: Prospa Business Loan Tier 2
Type: business
Max LVR: -%
Amount Range: $55,000 - No limit
Max Term: 60 months
Rate: 14.99% - 16.99%
Contact: | partners@prospa.com
Purpose: refinance
Property Type: development
LVR: 55.0%
Amount: $11,000,000
Term: 12 months
Property Value: $20,000,000
Address: 39 Chamberlain Road, Massey, Auckland
| Filter | Result | Client Value | Lender Requirement | Note |
|---|---|---|---|---|
| Loan Type | Fail | refinance (development) | business | Client: refinance (development property), Product: business -> mismatch |
| LVR Limit | Pass | 55.0% | - | |
| Loan Amount | Pass | $11,000,000 | - | |
| Security Type | Fail | development | commercial | development not accepted |
| Credit Score | Pass | - | 650 | |
| Monthly Turnover | Pass | - | $55,000 | |
| Property Owner | Pass | Yes | Not required | |
| Borrower Type | Pass | - | Any |
| Dimension | Raw Score | Weight | Weighted Score | Visual |
|---|---|---|---|---|
| LVR Headroom | 50 / 100 | 25% | 12.5 |
|
| Data missing (client LVR or lender max LVR not set) -> default 50 | ||||
| Interest Rate | 33.4 / 100 | 25% | 8.3 |
|
| Rate = 14.99%. Formula: (20 - 14.99) / 15 x 100 = 5.01/15 x 100 = 33.4. (Scale: 5% = 100, 20% = 0, linear) | ||||
| Loan Amount Fit | 80 / 100 | 15% | 12.0 |
|
| Amount $11,000,000 >= min $55,000, no upper limit -> 80 | ||||
| Term Match | 76.0 / 100 | 15% | 11.4 |
|
| Client term 12mo / Lender max 60mo = ratio 0.2. Formula: max(60, 100 - |0.2 - 0.5| x 80) = 76.0. (Best when ratio between 0.3-0.8) | ||||
| Payment Flexibility | 33 / 100 | 10% | 3.3 |
|
| Lender offers 1 type(s): principal_and_interest. Base = 1 x 33 = 33. Client prefers 'interest_only' but NOT available -> 33 | ||||
| Turnaround Speed | 50 / 100 | 10% | 5.0 |
|
| Turnaround time not specified -> default 50 | ||||
| TOTAL | 100% | 52.5 |
|
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