How we assisted a Business Customer to establish a $100k revolving credit facility (Debtor Finance)
Recently one of our business clients approached us to establish a $100k revolving credit facility
Our client needed working capital to pay some important creditors/suppliers, to improve their trading performance.
Unfortunately, our customer’s business struggled during Covid lockdowns, and as a result, they had some ATO tax arrears/arrangements in place. Many Lenders will not approve a loan application for a business that has ATO arrears.
We were able to source an alternate Business Lender that would rely solely on Quarterly BAS statements to support the customer’s business income and qualify for the loan. We also managed to source a Lender that was comfortable that the business had ATO arrangements in place.
Access to an additional $100k for working capital meant our customer could pay their suppliers and continue to grow his business.