GCC Business Finance was contacted by a broker in Sydney who had a long relationship with a truck driver who was looking for Business Finance Deals Sydney. The brokers client needed a tailored solution.
GCC Business Finance offer Low doc equipment finance for a broad range of equipment including motor vehicles, trucks & all types of equipment leasing options in Sydney.
The driver had never owned his own truck, didn’t own any residential property, had recently been divorced and had a dependent child. His Sydney business had an ABN for 9 months and had a series of small relationships for multiple companies. There was no contract held with any of the companies in question.
The driver had no money available for a deposit.
Our gcc Business Finance Team found a lender who recognised the customers time as a driver and past business associations in Sydney. The lender gained reassurance from the customer in receipt of weekly deposits to his bank account from one of the dealings he held, and gained additional ease by seeing the pride in which he held the trucks he didn’t own with photos and checks available on social media.
The GCC business finance team originally discussed with the broker, giving the lender comfort by offering for the GST to be claimed in the clients next quarterly BAS to be then deposited back into the loan. Whilst this wasn’t preferred, after offering this initially, based on the liquidity of the Asset still being evident (Prime Mover was 22 years old, however Kenworth branded)
The GCC business finance team negotiated for no deposit to be required. After hearing that an approval was granted on this basis, Broker passed on that the client was ecstatic both with the approval and relief to his cash flow.
Approval was gained within 48 Hours of receiving all information from the client.
Referrer earned money on the transaction.
- Understanding Brokers
- Negotiation and strength of relationship with Lenders
- Access to Alternate Lenders with varying credit
- Deal restructuring to enhance Lender appetite
If you would like to talk to our specialists about your specific needs contact our Sydney team directly at: 02 9222 9300