The client was a multi-site franchise owner opening a new greenfield franchise in Brisbane. Whilst they had other existing businesses, the client had set up a new entity with a new ABN for this particular franchise business.
The client had a very complicated company structure with multi-layered entities, trusts and directors entwined. The company structure made it hard to assess and separate sources of revenue. The entity seeking the asset financing was itself a fresh ABN entity restricting the lending options.
Swoop identified a key lender who could offer a funding option tailored to the client’s needs. However there was an excessive and complicated list of documentation required for the lender. Swoop worked very closely with the client to prepare key documents such as construction plans, forecasted financials and inspection reports. The process took a few weeks but Swoop kept chipping at it diligently and managed to fulfil all of the lender’s criteria for the funding option.
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