Find it hard to believe?
Let me show you how we did just that for Mark, an Australian business owner in need of financing.
Mark’s Wholesale Steel Business
Mark has been the company director of a wholesale steel business for the past twelve years. Mark came to us when he had a turnover of 3.5M per year, no assets, an 80K business loan and 10K in ATO debt.
Position – Company Director For The Last 12 Years
ABN - 12 Years Registered For GST
Turnover – $3.5M A Year, Profit Of $278K For FY17
Assets – Not Available
Liabilities – A Current Business Loan Of $80K
Credit Impairment – None
ATO Debt - $10K On A Payment Plan
Mark needed 165K to expand into a second warehouse, which would help him handle the increased demand. He initially sought funding from his bank, however, because he had no assets, they were unable to assist.
After coming to us, we got Mark approved for a 165K unsecured business loan with a 2-year term through a non-bank lender. He was approved within 48 hours as the business was assessed using up-to-date data from his cloud accounting software.
Mark's business is now booming. With the funds he has secured, he is now taking advantage of new opportunities and has kicked off his growth plans, expecting turnover to grow to 6.3M in FY18!
Mark loved the ease of the application process and he is also finding it easier to sleep at night, knowing he can confidently tackle larger orders as there is now cash on hand!
Find The Right Business Loan Today
As a business owner, it can be difficult to know where to look when you have a tricky finance requirement. Rather than individually researching each and every finance company, and spending hours making enquiries, you can contact one of our business loan advisors.
Our business loan advisors have worked with hundreds of businesses just like yours, helping them wade through their lender options to find the best rate, lender, and loan.
You can call our business advisors on 1300 780 568 or use our free loan finder tool here, to get your tailored business loan advice.
Nicki is our Senior Working Capital Manager. She works with a team of talented product specialists, leveraging 25 years combined experience to help Aussie businesses find tailored finance solutions.