A property maintenance business required funding to cash flow their pipeline of work.
They wanted the credit to pay for sub-contractors and materials for their growing list of jobs.
Initially the business owner approached us for an invoice finance facility.
Invoice finance facilities are only a workable solution for business to business industries.
Invoice finance wasn’t a good fit as the property maintenance debtors weren’t the real estate businesses that co-ordinated their jobs but the investment property owners (consumers) who paid for the work.
Without property our client didn’t believe they could obtain even a small line of credit.
There are a number of lenders providing unsecured lines of credit and business overdrafts without the need to be a property owner.
If you are a property owner (or your spouse is) you can secure limits up to $1M without needing to mortgage your property and without a bank.
You can have this kind of overdraft in addition to your bank facilities.
For our client we approached the lender that was the best fit and within 24 hours of application they were approved for a $50,000 overdraft.
Please note: loans and loan features are to approved applicants only.