Client Success Story – Penetrator Planter (Secured Business Loan)
Our client was looking to purchase a penetrator planter for seeding grains across their farmland.
However they did not have sufficient funds to purchase the equipment new, instead they were looking to purchase the asset second hand via an auction.
There were two hurdles we assisted the client in overcoming,
- Obtaining a pre-approval for the equipment to ensure theyhad the funds to confidently bid at the auction
- Not being able to obtain the Certified ID of the trust appointer which was a condition of settlement from the lender
We obtained a fast resolution for our client by:
- Working with the lender to secure a $150,000 pre-approval within 30 minutes
- Working with the lender BDM to revise the approval conditions, meaning the client could provide alternate documentation instead of Certified ID.
As a result of our team’s efforts, we were able to go from pre-approval to settlement on this $150,000 transaction all within the space of one week.
Securing Business Loans for primary assets can be a swift process through the Amfin team. Some of the most common primary assets we secure finance for are;
- CNC Machines