Client Success Story – Printing Service (Unsecured Business Loan)
A client of ours needed to payout the balloon payment on a printing equipment loan. The client’s existing lender had recently changed their policy, where balloon refinancing was no longer an option.
The key requirements for this deal were:
- The client needed the funds quickly so as to not miss their deadline with their current lender.
- We needed to find a solution at no greater cost to the client as they had not budgeted for this.
We worked with the client to obtain an unsecured loan for the balloon amount. The client was also able to negotiate the balloon payment down from $25,000 to $15,000 by providing a lump sum payment.
Other aspects of this deal were:
- Turnaround Time: 3 days
- Loan Term: 60 Months
Our team delivered the outcome on time and within budget, as well as securing the loan at a 3.5% rate reduction compared to the client’s existing loan. Our client was very happy with both the solution and the savings found!