Acceptable loan purposes:
- For acquisition of or improvements to drinking hotels.
- Finance for Licensed Recreational Clubs & profitable, well-managed, medium to large clubs with a strong competitive advantage in their local market.
- Minimum 3 years industry experience as a successful publican or
- 5 years as a successful hotel manager, in an equivalent operation is required.
- Demonstrate the ability to service debt.
- Proof of a detailed maintenance / refurbishment plan at no more than 3 to 5 year intervals, supported by professional advice in need.
- Individual hotel performance will depend upon the mix of various cost centres within the establishment, and will cover (as applicable): Bar, Gaming, Nightclub, Bistro, and Packaged liquor.
- Stable and competent directors preferably with a background in business / finance, and
- Competent secretary-manager / financial controller / general manager with appropriate professional and industry qualifications Verifications Required.
- Quality of the liquor licence, gaming licence and security property.
- Name of licensee and determine the status of the licence (i.e. special conditions, complaints, etc).
- Level of fees and currency.
- Special entertainment approvals (e.g. by local council).