THE SITUATION
Our client owns a concrete pumping business and has been in operation since 1988. Due to an increase in work, this client wanted to increase their fleet of pumping trucks to meet the demand of work available.
ASSET REQUIRED
2015 DAF FLOWCRETE PUMP $275,000
THE CHALLENGES
Our client’s credit file showed a telco default of $2,000 which meant that we were not able to obtain bank finance for this client.
They also needed to fund 100% of the purchase as they had no deposit.
Lastly, the loan was $275,000 which was greater than most lenders low doc limits.
THE SOLUTION
Under a full doc application, we were able to secure finance for this client. for $275,000.
A full doc application was made up of an application form, 2 years accountant prepared financials, ATO portals and commitment schedule.
The term of the loan was 5 years, and we were also able to settle the deal without a need for a deposit.
The lender we were able to finance this loan with was a Teir 1 non-bank lender with comparable rates to the major banks in Australia.
If you are after new assets for your business, then contact Finance Assets for a confidential, no-obligation discussion.
