Our client came to us seeking to fund expansion into a new market but started the conversation by telling us we probably couldn’t help them because they didn’t have property to use as security.
Understanding they had a solid opportunity due to a related business, they had turnover sufficient to support an unsecured overdraft limit with a non-bank lender and unencumbered equipment in their factory.
While it’s common knowledge you can raise capital against vehicles, trucks and trailers, there’s also a wide variety of machinery that can be used as security for a loan with limits available in excess of $1M.
This style of loan can be used for debt consolidation, to pay out tax debt as well as funding a growth strategy like our client was seeking.
In less than a week an overdraft limit was settled and, a short time after, the additional working capital was paid into our clients account.
Growth strategy funded!
