Our client is a property maintenance service business, typically making repairs and improvements to residential investment property at the request of the managing real estate agent.
Initially, they approached us for an invoice finance facility. This wasn’t a product we could utilise as their debtors weren’t the real estate businesses that coordinated their jobs but the investment property owners who paid for the work.
Without property, our clients didn’t believe they could obtain even a small line of credit, but there are now a number of providers in the market providing unsecured lines of credit and business overdrafts. We approached the lender that was the best fit for our property services client and within 24 hours of application, they were approved for a $50,000 line of credit.
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