,1) ATO Directors Penalty Notice.
A client with a vibrant and profitable business received from the ATO a notice demanding payment of $180,000 within 21 days. The client would lose his company and personal assets if the payment wasn’t made.
We worked with his accountant who liased with the ATO and we provided $100,000 with 7 days and the ATO agreed to put the balance of $80,000 back on a payment plan. Security was provided to the lender over his house with a second mortgage. The client’s company was saved and his business is back on track.
The client came back to us 18 months later for another short term loan which he then repaid in full.
2) Truck Purchase
Client unable to borrow.
A client borrowed $120000 for a garbage disposal truck with a sophisticated bin system. He was starting off as an owner driver and lacked business history and was unable to get finance elsewhere. He paid the debt off in the agreed time frame.
3) Developer borrowed with second mortgage as security:
Developer with several million dollar projects on the go was refused further finance by his bank.
We provided $750000 over a 9 month term secured with second mortgages against two development sites. He onsold these and made a profit and repaid the loans
4) Businessperson needed extra stock funding for a big order:
His bank ,who had a first mortgage of over $1m over the client’s principal residence, couldn’t move fast enough for the client to be able to take advantage of the stock purchase.
We provided $150000 funding within 10 days and took a second mortgage over the client’s house.
5) Developer knocked back by banks on land subdivision:
Developer joint ventured with civil contractor partner who spent $2m on earthworks. The banks didn’t recognize the value added work.
$5m comprising $3m to settle and $2m for extra works provided by us with a non bank lender and a first mortgage.