Client Success Story – Mining (Cash Loan/Secured Loan)
Recently one of our clients secured a quarry mining contract and was looking to source a concrete crushing asset for the project. It was their preference to own the asset instead of leasing it.
To secure the $200,000 asset, there were a number of obstacles to overcome including:
- The company ABN had been in operation for only 9-months
- A cash deposit of 15% was required upfront for the machine
- Existing finance arrangement – the new asset needed to be acquired before paying out an existing loan (costing them $60,000 per month)
Within 4 business days, our Senior Finance Consultant Chris was not only able to secure funding for the asset but also secure a cash loan to fund the deposit.
Ultimately, the client went from paying $60,000 per month to only paying $12,775 per month improving their business cash flow.