Client business background/history: This business client structured through a family trust is a Civil Engineering business (pipe laying and boring) with over 5 years in operation.  This client was referred to our Lending Team by their Accountant. They have major contracts in place for laying their underground pipes and conduit with one of Melbourne local council. The business is poised for expansion and has turnover over $1M.

Client objectives: The client’s main objective was to expand business and generate new source of revenue by branching into excavations.  To achieve this, the business needs to purchase a specialised truck costing over $600,000. The specialised truck would need to be built to specifications and delivery will be few months away.

‍Loan structure: After insightful conversations with our client and their in-house Accountant we formulated the right financing strategy aligned with the business growth and tax planning. Armed with all the information we collected and understanding of our client, we investigated finance options that were fit-for-purpose and structured finance via a five-year secured asset financing with one of the major bank lenders.

‍Outcome: By understanding our client’s needs and objectives we were able to take into account the client complete financial and business objectives and financial position. We were able to secure fit-for-purpose finance at a competitive rate. Our client was able to purchase the specialised truck and has already obtained new contracts because of it, achieving their objective of expanding business and opening other avenues of revenue.