After hours of workshopping and lengthy negotiations, Vicky was ready to give up. Here’s how we helped her secure the cash she needed to get Pop Gaming off the ground.
Loan type: Commercial Lease Amount borrowed: $50,000 Used for: Equipment
After years of working in business development and management, Vicky Mezzapesa, owner of Pop Gaming, decided to take the plunge and start her own business. Inspired by fond memories of family outings (that always seemed to end in gaming arcades), Vicky established her very own family entertainment centre in Gisborne, Victoria.
Vicky used funds from her previous employment to start her business, but soon realised that in order for Pop Gaming to reach its next phase of growth, she needed additional funding to purchase new gaming machines and expand her offering.
Initially, Vicky was hesitant to apply for finance. Like many other small business owners, she had her concerns. Would she be approved? And if not, what would the consequences be on her business and credit history? However, through projections, careful analysis, and weighing up pros and cons, she soon realised that the risk was well-worth the potential reward.
Getting approved for finance was the only way forward for Pop Gaming. She just needed a little help in getting her application over the line.
“You'll laugh, but I always remember the name because my childhood family car was a Valiant.”
After discussing her business needs with a Valiant product specialist, Vicky decided on a loan amount of 50k—enough money to purchase essentials (machines that would generate real revenue and get her business off the ground) while also being able to comfortably pay off her loan.
“The brokers are quick to identify your options, advising you at the time of the enquiry.”
Due to the nature of Vicky’s business and the fact that it was a new company (she was less than a month into trading), lenders were hesitant to offer her the funds she needed, identifying her as a high-risk borrower.
Vicky’s 50k was not an easy win—it took several weeks to get her finance application over the line, with the help of her product specialist, who worked with lenders to negotiate and workshop a deal that would suit everyone involved.
“At one point, Vicky was ready to check out.”
Between the day-to-day running of her new business, getting documentation together and taking phone calls (let alone taking care of life itself!) there was no time to spare.
But, Vicky’s product specialist helped her push through, reminding her of how far she’d come. Finally, by securing the loan with her new gaming equipment, Vicky was approved for 50k.
“By thinking outside the box, we were able to secure a substantial loan for a brand new business, with the help of a wonderfully patient client who was willing to put her faith in us to help. In the end, we got there! And now, Vicky can take her business exactly where she wants.”
If you’ve just set up a business, ready to hit the ground running but instead, hit a wall—there is hope for getting finance to smooth over cash flow or take your business to new heights—it might not be easy, but Vicky (and Pop Gaming) prove that it’s possible!
What’s next for Pop Gaming?
With 50k, Vicky was able to take ownership of her company’s equipment, and, looking forward, she’s excited to expand her product range and offer customers an even better gaming experience.
Once the loan was settled, Vicky dropped her product specialist a note to say:
“Thank you for believing in me and just giving me that push.”
Sometimes, that’s all you need. A little support goes a long way. Congratulations, Vicky!
Luke is Product Specialist here at Valiant, specialising in Asset Finance. He helps empower business owners by giving them the tools and advice they need to build awesome companies from the ground up.