Weakness's;

- No Financials as client accountant was overseas

- Many credit enquiries on credit file

- Short term Visa (Not an Australian resident)

Strength's;

- Reliable work from existing client.

- Reasonably good work source from a long established company

- Guarantor who is Australian citizen

- Sufficient working capital in business account of $11K

Funding Solution;

- 100% Funded (No Deposit)

- Rent to Own Solution

- 5 Year Term with No Balloon Payment

- Low Doc. We used 3 months bank statements as proof of income.

The Non-bank funders that we use, consider the Strength's and Weakness's of each deal and if the clients plans make sense overall , they will approve the deal.

Engaging The Finance Group Parramatta as your preferred Truck Finance Broker, we will present your situation and clearly explain any mitigating circumstances to justify negative aspects about your financial situation and emphasize the positive points about your situation and how you plan to ensure you new business or business growth will be a success.

We have over 20 Lenders on our lending Panel and many of the non-bank lender's give people a second chance.

Detailed Background on the deal;

Harry's business was running profitably for 12 months. The company Harry contracts to asked him to put on a 2nd truck & trailer, since business is booming. He was looking at purchasing a $70,000 Used prime-mover.

Harry already purchased a Trailer using his own funds and redrawing on existing credit facilities, but Harry was having difficulty getting an Approval for a Prime Mover, as he was a Renter, had excessive credit enquiries on his credit file. Making the situation more difficult, Harry was not a Permanent Resident. Despite living in Australia for over 6 years, and his Visa continually being renewed every time, he was unable to get additional finance for the Prime Mover. He did however have strong income levels coming into the business, $11,000 of Working Capital, and a clear credit file. Through supplementing the weak work letter with historical invoices from the contractor, and confirmation that the previous income is a reliable indicator of future income (if the 2nd truck was provided), the Lender was happy to accept the proof of income provided. By adding a Guarantor who was a Permanent resident, we obtained an approval for $70,000, and once settled Harry was able to pick up his truck and fulfil the additional work.

We are here to provide assistance as your reliable Truck Finance Broker, please call one of our Team on 1800885626 or 180088LOAN 7 Days per week and we will aim to take your call 24 hours per day.  Australia wide.

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