Client Success Story – Commercial Vehicle (Secured Loan)
At Amfin, we have a dedicated team for commercial lending. Recently, our client was looking to secure financing to purchase a new ISUZU D-Max for their business.
When financing assets it’s important that business location identification fits the lenders’ policy. For sole traders, often they reside in one location according to their ID with a PO Box or remote business address. This can sometimes be challenging as it may cause confusion when it comes to processing the finance at settlement and has the potential to hold up the deal.
In this instance, there were difficulties in locating the client’s internal office address that we could foresee. We needed to work with the lender and client to ensure settlement would be seamless by overcoming any confusion around the office location with the lender upfront.
For our client, we achieved a practical resolution by:
- Working with the lender to provide alternate documentation for proof of address
- Working with the lender to have the address permanently updated on their database to avoid confusing in the future.
By looking ahead, our team were able to provide approval of the full loan amount within 3 hours and settle the $64,375 deal before the client’s deadline to get into the vehicle.
Thinking ahead and being solutions driven is vital for the success of your clients.