Client Success Story – Food Truck (Secured Business Loan)

01-06-2022
Client Success Story – Food Truck (Secured Business Loan)
At Amfin, supporting your client’s business and assisting them achieve their goals is the role of our dedicated commercial lending team.

In this experience our client was entering into a new retail business venture and required financial assistance to secure the initial asset.

Background:

The client was looking to start her own homemade doughnut business, operating out of a food trailer. They required a secured commercial loan for the food trailer to commence trade.

Hurdle:

Securing finance for a new venture is often challenging when there is no record of success.

Solution:

Through detailed conversations with the client, we learnt that she had 2 years previous retail experience in the doughnut industry (PAYG). As a result, we were able to work with the lender to treat the deal as one with prior industry experience, rather than a new venture.

Outcome:

The client was approved for a secured business loan to purchase their new food trailer worth $38,400 with 10% deposit.

By listening to our clients and taking a vested interest in their business, we are often able to find solutions when initial first impressions may look difficult