ALL ROADS WHOLESALE FUND LIMITED

ALL ROADS WHOLESALE FUND LIMITED
Welcome to All Roads

Project Qualification & Lending Assessment

Thank you for considering All Roads Wholesale Fund Limited for your project. Please read the process below before completing the form and provide accurate, complete information about your proposed project.

All lending requests must follow the process below:
1. Online Application – The applicant must first complete this lending application form and satisfy the applicable lending criteria.
2. Credit Committee Review – The application is then assessed by the Credit Committee against the Fund’s Investment Mandate, lending criteria and credit requirements.
3. Board Approval – Any application supported by the Credit Committee must then be submitted to the Board for formal consideration and approval or decline.
Please proceed through each page, then select Next to continue. Please note. The form will not progress unless the required criteria is met. Once completed, click Submit.
DATE SUBMITTED

DayMonthYear
2 digit day, 2 digit month, 4 digit yearDate
FUND TYPE Property Development / Land & Construction / Residual Stock / Property-Secured Bridging
INTEREST RATE 12.5% p.a.*
HOW TO COMPLETE THIS SELF-ASSESSMENT
This checklist applies to the funding purposes considered by the Fund – property development and construction, land and construction, residual stock, and property-secured bridging finance – for development projects and land opportunities located in the Trans-Tasman region (Australia & New Zealand). The Fund does not provide owner-occupied home loans, consumer or personal credit, equipment finance, trade or invoice finance, unsecured working capital, or lending outside these locations and purposes.

Not every criterion will be relevant to every project. Some rows reference concepts specific to a particular stage or structure of a development (for example, construction contracts, pre-sales, QS cost-to-complete or dwellings/lots, which may not apply to a land-only or residual stock facility). If a criterion does not relate to your project, mark it Not Applicable (N/A). An N/A response does not count against your application – it simply means that test doesn't apply to your project's stage or structure. The six Essential Project Requirements, however, always apply and cannot be marked N/A.

Before completing this form, check your project against the Fund's core objectives: a development project or land opportunity in the Trans-Tasman region; a facility of $500K–$10M (indicative) for a term of 12 – 36 months; First Mortgage security available to the Fund; a maximum 70% Loan-to-Value Ratio; a minimum 10% upfront profit or embedded value; and a minimum 25% projected profit against Gross Realisation Value. If your project cannot meet these objectives, it will not qualify for funding, and we encourage you not to proceed further – this protects your time and resources as well as ours.

This guidance is provided to assist self-assessment only and does not constitute a credit decision or offer of finance. All applications, regardless of project type, remain subject to formal credit assessment, applicable valuation or financial review, and approval at the fund manager's discretion.

SUPPORTING INFORMATION - AVAILABLE TO PROVIDE ON REQUEST
Borrower/entity documents, ownership chart and IDs	Full development feasibility and sources/uses
Current financial statements / management accounts	Independent valuation (if available)
Statement of assets & liabilities for guarantors	DA / planning / building approvals
Existing loan statements and payout figures	Building contract, builder details and program
Evidence of borrower equity and source of funds	QS report / cost-to-complete and draw schedule
Presales / pre-leasing schedule and deposits	Insurance details / certificates
Exit/refinance evidence or indicative take-out terms	Other security / guarantees / intercreditor details

IMPORTANT: This form is a project qualification tool only. It is not an application for credit and is not an offer or commitment to lend. Loan pricing, default rate, fees, term, security, conditions precedent and drawdown conditions are transaction-specific and remain subject to formal credit assessment, independent valuation where applicable, legal/security review, delegated approval, satisfactory conditions precedent and fund availability. *The 12.5% p.a. rate shown above is indicative only unless confirmed in the final Loan Offer / facility documents.

PROCESS OVERVIEW
Every development opportunity presented to All Roads follows the ten-step process below. Each stage must be satisfactorily completed and documented before a project can progress to the next stage.

Before submitting an application, please complete the Pre-Qualification Checklist and Fund Eligibility Self-Assessment. Projects that do not satisfy all six Essential Project Requirements, or that fall outside the Fund’s objectives, will not proceed to detailed assessment.

An accurate and complete self-assessment helps you determine whether your project may qualify before you and the Fund commit further time and resources.

Step 1	Pre-Qualification Checklist – Before Submission to All Roads Completed by the applicant before submission.
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Step 2	Submit Project to All Roads 1 business day.
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Step 3	Full Development Feasibility Study 2 business days to review a complete feasibility.
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Step 4	Developer / Borrower Assessment 1–2 business days.
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Step 5	Independent Due Diligence & Security Review 4–5 business days.
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Step 6	Repayment, Exit & Downside Assessment 1–2 business days.
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Step 7	Credit Recommendation 1 business day.
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Step 8	Formal Approval 1–2 business days, subject to Board availability.
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Step 9	Conditions Before Funding 3–4 business days.
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Step 10	Settlement, Funding & Ongoing Monitoring 1 business day for settlement and initial funding. Monitoring continues throughout the loan term.

How Long Does the Process Take?

All Roads aims to complete assessment, approval and initial funding within 3–4 weeks from receipt of a complete application and all required supporting documentation, provided the project receives approval and all funding conditions are satisfied.

This is an indicative target and not a guaranteed funding date. This target assumes a complete feasibility is available, independent advisers are available and can meet the required turnaround times, the applicant responds promptly and no other material issues arise.

Each assessment period will only begin once all information required for that stage has been received. Additional information, revised feasibility studies, delays in external reports or complex security arrangements will extend the process.

Approval and Funding

Submitting an application or progressing through an assessment stage does not guarantee approval or funding.

No agreement that funds may be advanced can occur until Steps 1–9 have been satisfactorily completed and documented, all conditions precedent to the relevant advance have been satisfied, and the required settlement and funding authorisations under Step 10 have been obtained, including approval by two Directors.

Responsibility for Each Stage

Step 1 is completed by the applicant before submission and covers the Essential and Preferred Project Requirements and Fund Eligibility Self-Assessment.

Steps 2–6 are assessed using the information provided in this application, supporting documents and the Fund’s independent verification process.

Steps 7–10 are completed internally by All Roads under the Fund’s approved credit assessment. This includes review of all loan documentation, settlement and ongoing monitoring procedures and ultimately requires Board approval. Applicants may be required to provide further information or documents during these stages.

BORROWER, LOAN & PROJECT DETAILS
1. BORROWER / GUARANTOR & OWNERSHIP
Individual borrower names (if applicable)

First NameLast Name
Residential address (individual borrowers)

Street Address

Street Address Line 2

Suburb / CityState / Region (if applicable)

Postcode
Contact email address
example@example.com
Contact mobile number
Format: (000) 000-0000.
Guarantor names

First NameLast Name
Borrowing entity legal name
Entity type
Borrower ABN (if applicable)
Borrower ACN (if applicable)
Entity Registered address

Street Address

Street Address Line 2

Suburb / CityState / Region (if applicable)

Postcode
Trust name (if applicable)
Trustee legal name (if applicable)
Director (1)

First NameLast Name
Director (2) if applicable

First NameLast Name
Beneficial owner (1)

First NameLast Name
Beneficial owner (2)

First NameLast Name
Is there any conflict of interest?
Conflict details (if Yes)
Adverse credit, defaults, insolvency, financial hardship or bankruptcy?
Adverse credit, defaults, insolvency, hardship or bankruptcy — details (if Yes)
Supporting evidence — adverse credit, defaults, insolvency, hardship or bankruptcy

If Yes, upload the relevant evidence now, including the explanation, dates, current status and any repayment, discharge or hardship arrangements. Submission will pause the application for Credit Committee due diligence.
Cancelof
Material litigation?
Material litigation details (if Yes)

2. LOAN REQUIREMENTS & REPAYMENT
Requested facility ($)
First drawdown amount ($)
Facility amount — automatically populated ($)
Required facility range: $500,000.00 to $10,000,000.00, including financed interest and fees. Calculated from Requested facility below.
First drawdown — automatically populated ($)
Calculated from the amount entered above.
Drawdown excess over facility ($)
Calculated automatically: first drawdown minus requested facility. Must be $0.00 or less. Change the source amounts below to correct any excess.
First drawdown date required

DayMonthYear
2 digit day, 2 digit month, 4 digit yearAt least 28 days after application; subject to complete documents, approval and all funding conditions.
How will the funds be used?
Explain what the facility will pay for: for example land acquisition, construction, project costs, interest and fees. Give the allocation or relevant amounts; these must agree with your facility and budget. Select the project category in Funding purpose instead of repeating it here. No minimum character count. Supporting documents are reviewed.
Funding purpose
Choose the project category once. This selection automatically carries into the later project details and must match the page 3 property requirements.
Does every proposed use of the facility relate solely to the eligible AU/NZ property or land project confirmed on page 3?
Funding purpose does not meet the property-only requirement
This application cannot continue while funds are proposed for an ineligible purpose. Personal car purchases, consumer credit and equipment finance do not qualify. Correct the project purpose and use of funds only if they genuinely meet the requirements on pages 1–3.
Requested loan term (months)
Enter a whole number from 12 to 36 months. Completion and repayment dates must match the selected term from first drawdown; supporting evidence is required.
Expected repayment date

DayMonthYear
2 digit day, 2 digit month, 4 digit yearDate
Interest payment method (monthly, capitalised, prepaid)
Interest payment method
Project country
Must match the security property address and supporting valuation. Only Australia or New Zealand qualifies under the page 3 checklist.
Repayment details — amount and timing
Give the expected net proceeds, when they will be available, and the evidence supporting repayment by the expected repayment date. Choose the source in Primary exit strategy; no need to repeat that category here. A clear relevant answer is sufficient; no minimum character count.
Primary exit strategy
Choose the primary repayment source. The repayment details above and supporting documents must substantiate this choice; a dropdown selection alone does not prove that the exit is viable.
Fallback exit strategy (refinance evidence)
Describe the alternative repayment plan if the primary exit is delayed or fails. A clear, relevant answer is sufficient; there is no minimum character count. Supporting evidence is assessed during review.
Facility amount requested ($)

3. SECURITY, VALUATION & LEVERAGE
Existing debt ($)
Purchase price / original acquisition price ($)
Acquisition costs — duty, legal and other purchase costs ($)
Upfront embedded value — calculated ($)
Current independent market valuation less purchase price and acquisition costs. This is current embedded value, before development; the budget and debt funding are checked separately.
Upfront embedded value — calculated (%)
Calculated from current valuation less purchase price and acquisition costs, divided by current valuation. At least 10% is required and must be supported by the acquisition documents and valuation.
Existing loan payout ($)
Current market valuation ($)
Land valuation ($)
As-if-complete valuation ($)
Gross realisation value ($)
Security property address (in the Project country selected on page 5)

Street Address

Street Address Line 2

Suburb / CityState / Region (if applicable)

Postcode
Title reference
Proposed mortgage ranking
All Roads requires first-ranking mortgage security. Second or third mortgage funding is not permitted. Existing mortgages must be discharged or resolved to preserve this priority before funding.
Existing mortgagee names
Existing debt — automatically populated ($)
Calculated from the amount entered above.
Debt payout — automatically populated ($)
Calculated from the amount entered above.
Priority or intercreditor deed details
General Security Agreement (GSA) details
PPSR security details
Additional property security details
Guarantee security details
Independent valuer name

First NameLast Name
Valuation date

DayMonthYear
2 digit day, 2 digit month, 4 digit yearDate
Valuation basis
Current market valuation — automatically populated ($)
Calculated from the amount entered above.
Land valuation — automatically populated ($)
Calculated from the amount entered above.
As-if-complete valuation — automatically populated ($)
Calculated from the amount entered above.
GRV — automatically populated ($)
Calculated from the amount entered above.
LVR against current market value (%)
Calculated automatically: (facility + existing debt - debt payout) ÷ current market valuation × 100. Maximum 70%.
Debt payout excess over existing debt ($)
Calculated automatically: proposed debt payout minus existing debt. Must be $0.00 or less. Correct the source amounts above if a positive excess appears.
LVR against GRV (%)
Calculated automatically: (facility + existing debt - debt payout) ÷ GRV × 100. Maximum 70%.
REJECTED — LVR exceeds the 70% maximum

This proposal does not meet the LVR requirement. The full facility exceeds 70% of the current market value or Gross Realisation Value (GRV). The project cannot proceed for further assessment with these figures.

Select Exit and send acknowledgement to submit this preliminary enquiry and receive an email. If the facility or supporting valuations change, you may complete the form again. Both LVR results must be 70% or less for further assessment.
Upfront embedded value ($)
Current independent market valuation less purchase price and acquisition costs. This is current embedded value, before development; the budget and debt funding are checked separately.

4. DEVELOPMENT, BUDGET & RISK CONTROLS
Total development budget ($)
Remaining cost to complete ($)
Equity already injected ($)
Additional equity available ($)
Builder contract amount ($)
QS confirmed cost to complete ($)
Budget contingency ($)
Presales amount ($)
Interest reserve ($)
Project type
Automatically populated from Project purpose on page 5. Return to that page to change it.
Number of dwellings
Number of lots
Current project stage
Planning status
Development Approval (DA) status
Building approval status
Total development budget — automatically populated ($)
Calculated from the amount entered above.
Remaining cost to complete — automatically populated ($)
Calculated from the amount entered above.
Equity injected — automatically populated ($)
Calculated from the amount entered above.
Additional equity — automatically populated ($)
Calculated from the amount entered above.
Source of borrower equity
Projected project profit ($)
Projected profit against GRV (%)
Profit on cost (%)
Builder name

First NameLast Name
Builder Company Name
Builder licence number
Builder Contract Type
Builder Contract Sum
Quantity Surveyor name

First NameLast Name
QS Company Name
Initial Report completed
Cost to complete confirmed
Cost to complete Sum
Contingency amount
Enter the contingency included in total development cost, as a number without $ or commas.
Contingency as a % of budget
Presales Value
Presales coverage of total secured debt (%)
Automatically calculated: presales value ÷ (facility + existing debt - debt payout) × 100.
Interest reserve sum
Indicative interest reserve coverage (months)
Calculated at the indicative 12.5% p.a. rate on the full requested facility: reserve ÷ (facility × 12.5% ÷ 12). Actual coverage depends on drawdowns and the agreed interest method.
Interest reserve funding method
Automatically populated from the interest payment method on page 5.
Insurance - Tick those applicable
Please list all policy numbers
Program Start Date

DayMonthYear
2 digit day, 2 digit month, 4 digit yearAt least two months after first drawdown. A 62-day minimum buffer is applied; choose a date on or after the calculated earliest start below and before practical completion. Support these dates with your project program.
Earliest permitted Program Start Date

DayMonthYear
2 digit day, 2 digit month, 4 digit yearCalculated automatically: first drawdown plus the 62-day minimum buffer. Program Start Date must be on or after this date.
Practical Completion Date

DayMonthYear
2 digit day, 2 digit month, 4 digit yearMust be later than today and Program Start Date, and no later than expected repayment. Use the completion date supported by the builder program and feasibility.
Key project risks
Proposed risk mitigation
Feasibility study and evidence supporting page 3 confirmations

Required: support every essential confirmation and each preferred item selected on page 3. Include acquisition price/valuation and the basis for ≥10% upfront value, AU/NZ property location, first-mortgage position, requested term and dated completion/exit plan, budget/GRV/profit, equity, debt/payout, contingency and funding sources. For selected preferred items, include the sale terms, vendor deferral, planning/DA status, developer/team experience, builder/QS controls and primary/fallback exit evidence. The amounts and details must match pages 4–7; credit committee verification is required.
Cancelof
Calculated contingency percentage
At least 10% of the total development budget is required. Calculated automatically.
Funding shortfall ($)
Remaining project costs plus debt payout less the requested facility and additional equity. Must be zero or less to submit.
Minimum contingency required ($)
10% of the total development budget. Your actual contingency must be included in the budget and meet or exceed this amount.
Internal drawdown calendar year
Internal calendar calculation. Not entered by applicants.
Internal drawdown calendar month
Internal calendar calculation. Not entered by applicants.
Internal drawdown calendar day
Internal calendar calculation. Not entered by applicants.
Existing debt remaining after payout ($)
Existing secured debt minus the full settlement payout must equal $0.00. Existing mortgages must be fully discharged so first-mortgage security is available. The facility and evidenced borrower equity must cover the payout and remaining project costs.
Purchase price needs correction
Return to the purchase price and enter a positive amount within the permitted entry limits.
Acquisition costs need correction
Return to acquisition costs and enter a non-negative amount within the permitted entry limits.
Acquisition costs exceed the total project budget
Purchase price plus acquisition costs must be included in the total development budget. Correct the purchase amounts or the evidenced total budget.
Project date correction required
Correct the dates: program start must meet the calculated earliest start; completion must be strictly later than program start and today, and no later than repayment. Repayment must be after first drawdown and within the selected loan term, counted in calendar months.
Financial consistency check ($)
Related amounts must be non-negative, within entry limits and consistent with the project budget, valuations and funding sources. A positive result requires correction before continuing.
Projected project profit ($)
Gross realisation value less the total development budget. Calculated automatically.
Funding shortfall ($)
Remaining project costs plus debt payout less the facility and additional equity. Must be $0.00 or less.
Repayment exceeds selected loan term
Calculated automatically using calendar months from first drawdown. Repayment must be within the selected loan term.
Minimum contingency required ($)
10% of the total development budget. Include the actual contingency in the budget.
Existing debt remaining after payout ($)
Must equal $0.00 after settlement. Existing mortgages must be fully discharged, supported by payout statements and settlement funding.
Loan-to-cost ratio (%)
Calculated automatically when total development cost is entered in Section 4.

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ALL ROADS WHOLESALE FUND LIMITED

Welcome to All Roads

HOW TO COMPLETE THIS SELF-ASSESSMENT

PROCESS OVERVIEW

How Long Does the Process Take?

Approval and Funding

Responsibility for Each Stage

ESSENTIAL PROJECT REQUIREMENTS

ALL 6 ESSENTIAL REQUIREMENTS MUST BE MET BEFORE CONTINUING

PREFERRED PROJECT REQUIREMENTS

PREFERRED PROJECT CRITERIA - TICK ALL THAT APPLY

NEXT STEP

BORROWER, LOAN & PROJECT DETAILS

1. BORROWER / GUARANTOR & OWNERSHIP

2. LOAN REQUIREMENTS & REPAYMENT

3. SECURITY, VALUATION & LEVERAGE

4. DEVELOPMENT, BUDGET & RISK CONTROLS