The client was one of four directors in a fitness studio and had been operating the studio for over 10 years. The client had significant management experience in managing the existing site and managing several others in a consultancy capacity. The client had an existing ATO debt and was looking for suitable funding options for a line of credit option to help buy out an existing director.
The client wanted to explore unsecured cash flow facility. However the lender market sentiments in the fitness space remained conservative and risk averse. This was further compounded by additional factors such as no significant positive changes in the revenue and uncertainty about ongoing business operations in lieu of directorship changes.
Swoop team worked very closely with the client to understand their exact needs and offer tailored options keeping in mind the factors identified above. Swoop was able to work with an alternative lender and help obtain an unsecured line of credit. Once the client approved of the option, Swoop was able to secure a quick turnaround and have the funds available to the client within a week.
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