Service Finance No Comments

Credit Defaults ($45,000)

Problem: Having had a court writ placed on his personal Veda file 6 months prior, an established client found he was unable to fund his new vehicle purchase through any of the major lenders.

Solution: Given evidence of both the cause and finalisation of the court writ, current business figures showing serviceability, property backing and a clear business credit record Service Finance was able to fund the new vehicle under a chattel mortgage over a 48 month term.

Service Finance No Comments

New Diving Equipment ($35,000)

Problem: Requiring some specialist diving equipment for an expansion plan, a long running family business found they were unable to secure major bank funding due to the unique nature of the asset.

Solution: With over 10 years trading history, strong current financials provided, a clear credit record and property backing Service Finance was able to finalise the deal quickly with the full amount being funded over a 3 year term.

Service Finance No Comments

Financing Used Assets ($11,000)

Problem: A small fruit and vegetable business recently looked to purchase a pre-owned 2001 forklift for small jobs around the shop. With the asset they wished to purchase being over 15 years old, it did not qualify for finance from any main stream lender.

Solution: Approached by the client’s finance broker, Service Finance was able to assist for the full amount given the clients property ownership, clear credit history and 2 years of trading.

Service Finance No Comments

New Survey Equipment ($14,500)

Problem: An established sole trader was looking to purchase some new survey equipment for use within his business. Due to the unique nature of the equipment the client found he was unable to acquire finance from any of the main stream lenders.

Solution: Service Finance was able to assist for the full amount given the client’s property backing, clear credit and 2 years trading history.

Service Finance No Comments

New Recycling Plant ($200,000)

Problem: A prominent city based recycler required a new paper recycling plant to replace their existing equipment. Due to the assets class and complications surrounding the corporate structure, the client found he was unable to secure major bank funding.

Solution: With the clients established business record, property backing and sound financial performance, Service Finance was able to approve and fund the full amount required.

Service Finance No Comments

Explained non-business related defaults ($70,000)

Problem: Having had a court writ placed on his personal Veda file 12 months previously an established client found he was unable to fund his new vehicle purchase through any of the major lenders.

Solution: Given evidence of both the cause and finalisation of the court writ, evidence of property backing and a clear business credit record Service Finance was able to fund the new vehicle under a chattel mortgage over a 60 month term.

Service Finance No Comments

Older Vehicle Finance ($20,000)

Problem: Looking to add an additional 2003 Hilux to their work fleet an established landscaping business found they were unable to obtain vehicle finance due to the assets age.

Solution: With the client being strongly property backed, evidence of trading history and a clear credit record Service Finance was able to fund the vehicle under a chattel mortgage product over a 48 month term.

Service Finance No Comments

Specialised Manufacturing Assets ($13,200)

Problem: Requiring a new Pipe Sawing Machine in order to keep up with increased demand a local client found he was unable to secure major bank funding due to the unique nature of the asset financed.

Solution: With several years trading history, a clear credit record and property backing Service Finance was able to finalise the deal quickly with the full amount being funded over a three year term.

Service Finance No Comments

Refinance of various Catering Equipment loans ($70,500)

Problem: Having had a successful initial six months of trading the owners of an Italian restaurant were looking to refinance their start-up catering equipment into a cheaper option.

Solution: With interim financials showing their strong trading results, directors’ property backing and a clear credit record Service Finance was able to refinance the existing loans for the remainder of the term and at a significantly reduced rate.

Service Finance No Comments

Specialised Equipment ($11,000)

Problem: An established Earthmoving business required some specialised excavator attachments for a new contract but was unable to secure finance due to the nature of these assets. The items were also to be affixed to an excavator under existing finance, a major sticking point for most main stream lenders.

Solution: Service Finance were able to assist this client given his significant time in the industry and strong property backing.