Product: Equipment Finance
Purpose: Purchase of a drone
The owner was looking to purchase a drone to get his business up and running, with his core activities being aerial motion pictures over farmland and event photography. As a new startup, he had limited trading time and no turnover yet, so it was difficult for him to curate a strong credit application.
Valiant worked with the client to learn more about the proposed business and ultimately suggested an equipment finance loan. Our Product Specialist, Graeme, recommended equipment finance as the business owner hadn’t started trading yet and with this loan structure, he’d be able to use the equipment as security for the loan. The business owner agreed that this would be suitable, and Graeme assisted him in submitting the application. Graeme recommended that the owner also look into insurance, as protecting the business’ assets is vital to him being able to trade.
Excitingly the application was approved, and the entire process was 14 days from initial enquiry to receiving an approval. Prior to speaking with Valiant, the business owner had approached brokers, but unfortunately business finance was not their area of expertise. When the owner got in touch with Graeme, he took the time to learn about the business and discovered that it was government-backed for the first 53 weeks, increasing his capacity to repay the loan.
Valiant is proud to have supported another great Australian business owner. When he was notified of the approval, the owner said to Graeme: “You have no idea what this means to me… You have just saved my life.” If you’re looking for business finance and you want to have a chat to a Product Specialist, give us a call on 1300 780 568.
Nat is the Communications Manager at Valiant Finance. She has a double degree in Journalism and Law, and a background in the fintech space, hailing from Asia's largest fintech hub, Stone & Chalk.