The Finance Group Parramatta has a dedicated team to assess and process specialized leasing applications . The team has extensive industry experience to provide superior funding solutions using a mix of lenders and product options.
Our lender panel consists of Major banks, Non bank lenders and private funding sources.
We prefer to deal with the more complex deals that include those with Bad credit (Paid or unpaid defaults), low doc situations or arrears. Often your average broker can deal with the simple deals, however the complex deals make us who we are and provide more job satisfaction formulating solutions for people who benefit from our specialist assistance.
Given that we deal in more than just equipment finance and truck finance, as we offer "complete solutions in finance" which includes personal loans, car loans, property loans, cash flow finance etc, in some cases, the solution to resolving some clients problems can involve using more than 1 product category.
An example of this is as follows:
Finance applicant has $1,000,000 home in Sydney, with $400,000 mortgage and recently had the opportunity to take on a very profitable contract by increasing the number of trucks with existing client, however the applicant is in arrears on the mortgage due to one of his drivers smashing his truck which caused the truck to be off the road for 6 weeks, plus repair costs that the owner did not have spare capital put aside to deal with these issues. Now the owner is behind on bills, behind on the mortgage and lease payments, but getting that extra truck to work on the expanded contract will make all the difference to increasing business profitability and scale.
The applicant has some trailers that are unencumbered.
Solution Option 1): Arrange a second mortgage to catch up on all expenses and provide funding for the additional truck.
Solution Option 2): Raise some capital against unencumbered trailers. Use the capital as cash injection into business to bring up to date all arrears. Arrange a Bad credit equipment/truck finance on the new truck (at higher rates). Wait 6 months for clean mortgage statements and then release equity from property at lower interest rates due to clean conduct for 6 months and clear out any higher cost (high monthly repayment) truck loans to improve overall cash flow position.
Each of the above options has different setup costs, time frames and ongoing cash flow requirements and other different advantages and disadvantages.
We consult with each client to understand their goals and using our variety of funding options, we put forward a written proposal to each client to consider.
Give us a call today on 1800 88 5626 to discuss your specific requirements with us.