Type of Finance: Business Loan, Equipment Loan, Refinance of Investment Properties & Cash-out for Renovation of properties
Client Industry: Building Industry
Amount Financed: $1,175,000
Business Purchase – Quadruple Application
One of our niches is the financing of SME business purchases. We are rather unique in the fact that we finance everything from equipment, commercial property, residential property, business loans, trade finance, debtor finance and cashflow finance.
Due to this broad suite of finance offerings for our clients, we can put together complexed multi-faceted finance options to achieve the desired outcomes.
One such client was Stuart who was an ex-police officer who was interested in purchasing an existing Holcim Concrete LOD (Lorry Owner Driver) business. The business included the 10 yr Holcim LOD Contract + the 2016 Mack 8×4 Cab Chassis with concrete Agitator.
We built and structured the deal and presented it to one of the major 4 banks. We were able to secure approval for 4 separate pieces of finance (Business Loan, Equipment Loan, Refinance of Investment Properties & Cashout for Renovation of properties).
This enabled the client to purchase the business and truck but to also refinance their existing 2 x investment property mortgages as well as get some cash out to complete renovations on these investment properties.
Stuart was over the moon as we achieved this without him having to put any deposit into the purchase of the business and truck, was able to get a better rate on his 2off investment mortgages and was also able to get cash out so that he could complete some renovations to his investment properties.
He now has a new business contract and truck and renovated investment properties which he is now earning higher rental incomes from.
Stuart was blown away that Commercial Point Finance as a true One Stop Shop when it came to his finance needs.
Contact us with your business purchase scenario so that we can assist you to achieve your goals. Check out our Business Purchase Finance page or call 02 9453 0300