Solutions
Funds to expand
Our client a very fast growing company in the packaging space was receiving little attention from their current lender. The business had changed rapidly however the bank could not recognise the customer's new position in the marketplace. After negotiation with a new lender the customer was able to increase their ability to access finance from $5m to $15m and take on national and international customers..
This enabled the customer to triple sales over the next 3 years and successfully sell the business with a $15m price tag.
Property Development Finance
The customer had a 5 plus year relationship with a major bank. When it came time to arrange a new property development for 24 apartments with the bank they thought they had no concerns. However the finance market for property development had changed markedly and the project looked likely to not proceed based on the bank's policy. However using private funding the client made a $1m profit from what looked a terminal situation with their current and traditional bank. We have a range of private lenders who can assist in providing assistance outside what a major bank can offer.
Restructuring the Deal
Our customer is in a traditionally difficult industry and was faced with increasing sales and declining margins. The bank began to lose faith in the ability of the customer to trade profitably in a very competitive environment. The bank then advised that they would only offer the customer one source of finance for their working capital needs. However this source of finance was $100,000 more expensive than the previous finance product and ensured the client would run at a loss. Select My Finance was introduced and negotiated with the lender to restructure the facilities to a more commercial arrangement. The customer overall saved in excess of $100,000 p.a. and set them back on track to record strong profits.
My bank won't help
This is what we hear the most often from our clients. Sometimes the bank you are with just does not have the right product or the right person to help. A quick change may be needed and often an alternate lender is the right
answer. It takes decades of experience to know who and where to go to when the current financier won't help. Our customer only 5 years ago had sales of $2m. With 3 different financing techniques and changed finance relationships we are proud to have been on a journey with them that will see them exceed annual sales of $20m.
Disclaimer:
These case studies are for illustrative purposes only. They are not based on a person’s circumstances. This information has been prepared without considering your objectives, financial situation or needs, you should consider its appropriateness to your circumstances. It does not constitute legal; tax or financial advice and you should always seek professional advice in relation to your individual circumstances.