Sancus provided an initial loan to fund the development of 38 houses in Monaghan on a phased basis, all of which were sold to an Approved Housing Body (who in turn leased the houses to the local council for social housing provision).
During the term of the first loan Sancus assisted the Borrower by refinancing another development in Dundalk and providing development finance to construct 8 houses, which were sold on the private market.
The loans, which were cross collateralised, have been full repaid.
An introducer fee was paid to the broker on loan closing.
