Product: Prospa Business Loan Tier 1
Type: business
Max LVR: -%
Amount Range: $0 - No limit
Max Term: 60 months
Rate: 17.99% - 19.99%
Contact: | partners@prospa.com
Purpose: bridging
Property Type: development
LVR: 62.92%
Amount: $2,800,000
Term: 5 months
Property Value: $4,450,000
Address: 12 Totaravale Street, Totaravale, Auckland
| Filter | Result | Client Value | Lender Requirement | Note |
|---|---|---|---|---|
| Loan Type | Fail | bridging (development) | business | Client: bridging (development property), Product: business -> mismatch |
| LVR Limit | Pass | 62.92% | - | |
| Loan Amount | Pass | $2,800,000 | - | |
| Security Type | Fail | development | commercial | development not accepted |
| Credit Score | Pass | - | 550 | |
| 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 | 13.4 / 100 | 25% | 3.4 |
|
| Rate = 17.99%. Formula: (20 - 17.99) / 15 x 100 = 2.01/15 x 100 = 13.4. (Scale: 5% = 100, 20% = 0, linear) | ||||
| Loan Amount Fit | 80 / 100 | 15% | 12.0 |
|
| Amount $2,800,000 >= min $0, no upper limit -> 80 | ||||
| Term Match | 66.6 / 100 | 15% | 10.0 |
|
| Client term 5mo / Lender max 60mo = ratio 0.083. Formula: max(60, 100 - |0.083 - 0.5| x 80) = 66.6. (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 has no preference -> 33 | ||||
| Turnaround Speed | 50 / 100 | 10% | 5.0 |
|
| Turnaround time not specified -> default 50 | ||||
| TOTAL | 100% | 46.1 |
|
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