Task 2 - Develop complex broking options You are required to prepare a full loan proposal addressed to Ray and Steve outlining available loan options and the application process. The proposal must also describe the potential advantages and disadvantages of the financing option that is being recommended. In a suitable report format, you should prepare the proposal to Ray and Steve, covering the following: The parties to the loan - what names will be on the loan contract? 1. 2. 3. 4. 5. 6. 7. 8. 9. 10 Provide two (2) different product options that would meet their needs and objectives - outline the product name/type, loan term, interest rate, balloon payment (if applicable), fees and charges and monthly repayments. Provide your recommendation of the best product option to meet their needs. State why the other product was not in their best interest or the best option for them. Name three (3) lenders that offer the product you recommended for their transaction. Advise them about the product type, loan terms that are available, interest rate, balloon payment (if applicable), fees and charges and monthly repayments. Provide a summary of the lender's applicable fees and charges - including set up costs and ongoing fees and charges. Advise which relevant disclosures need to be made covering broker remuneration. Outline all security that will be required, including directors guarantees. List the documentation they need to provide to obtain the funding for the machine and to obtain a loan approval. Outline their responsibilities, so they fully understand their obligations regarding the security offered and the equipment during the loan term. Provide details of the financial and transaction risks associated with the new loan of which they