Service Finance No Comments

Used Prime Mover Finance ($65,000.00)

Problem: A regional based transport business required an additional prime mover to complete a newly acquired contract. Due to the assets age, size of the lend and regional nature of the work the client was unable to secure funding with any of the main stream lenders.

Solution: With the clients established business record, property backing, strong financial performance and a broker asset inspection, Service finance was able to approve and settle the full amount within 48 hours.

Service Finance No Comments

New Unique Assets ($8,500.00)

Problem: A sole trader was looking to purchase a high end camera for work within his business but was unable to acquire finance from any main stream lender due to the nature of the asset.

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

The full amount was able to be funded over a 2 year term.

Service Finance No Comments

Financing Tertiary Assets ($40,000)

Problem: A business specialising in bus shuttle services was unable to obtain funding from major financiers for a vehicle wash machine system due to the asset falling slightly outside their lending guidelines.

Solution: A strong trading performance and net-asset position, together with sound credit history meant that Service Finance was able to assist in the purchase of the vehicle wash system with 100% finance.

This asset acquisition allowed the client to clean all their buses daily which in turn saved around $40k of annual outsourced costs.

Service Finance No Comments

Large Asset Purchase for Turnaround Client ($170,000.00)

Problem: A regional farmer was unable to secure major bank funding for a mustering helicopter due to some adverse credit several years previous.

Tough trading conditions several years earlier, resulting from an unforeseen change in government policy, had led to significant cash flow issues for the client.

Solution: Having recovered from this situation, the client was able to provide Service Finance with a clear explanation for the adverse on file, while also presenting the latest interim ‘management’ financial statements showing a return to sound trading results.

With an upfront deposit Service Finance provided funding over a 5 year term.

Service Finance No Comments

Financing Used Assets ($15,000)

Problem: A husband and wife partnership recently looked to purchase a pre-owned 2005 forklift and were unable to qualify for finance from main stream lenders due to the asset age.

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

The full amount was able to be funded for a four year term.

Service Finance No Comments

Sale & Buyback on Tertiary Asset Purchase ($70,000.00)

Problem: The owner of a bakery purchased a recently liquidated competitor business and was given the opportunity to purchase a large quantity of bakery equipment at a heavily discounted price, but was required to pay both in cash and on short notice.

The special purpose nature of the equipment was such that traditional bank funding was not an option.

Solution: With the director’s property backing and a motor vehicle offered as additional security, Service Finance was able to fund the full amount of the equipment purchase over a 4 year term.

Service Finance No Comments

Capital Raising from Existing Assets ($80,000)

Problem: While working on several long term contracts, a mid-tier construction business found itself in a difficult cash flow position and needed to top up its working capital.

The broker was able to put forward one of the company’s existing unencumbered prime movers as security.

Solution: With an inspection report being provided and the Director’s property backed guarantee, Service Finance was able to fund the full amount required over a 60 month term, significantly reducing the cash flow pressure on the client.