The client operated a successful mining company with an annual revenue exceeding $13 million dollars. The client was seeking to purchase a highly specialised pipeline welding equipment. However the client’s new government contract was yet to be realised on their books making it difficult to show servicing for the machinery.
The client was facing difficulty finding a suitable lender. The client lacked security for the funding as they did not own property. The equipment itself was very specialised further limiting the client’s funding options.
Swoop right away matched the client with a lender who specialised in funding such assets. There were slight obstacles in the way such as lenders requiring a deposit and an on site valuation done by the lender’s nominated personnel. However the Swoop team worked very closely with the client, the lender and the supplier to facilitate all of the lender’s requirements. Swoop was able to help the client secure the funding in less than 3 weeks.
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Disclaimer: Swoop Finance Pty Ltd (ABN 52 644 513 333) helps Australian firms access business finance, working directly with firms and their trusted advisors. We are a credit broker and do not provide finance products ourselves. All finance and quotes are subject to status and income. Applicants must be aged 18 and over and terms and conditions apply. Guarantees and Indemnities may be required. Swoop Finance Pty Ltd can introduce applicants to a number of providers based on the applicants’ circumstances and creditworthiness, we may receive a commission or finder’s fee for effecting such introductions. Swoop Finance Pty Ltd does not provide any kind of advice and in giving you information about providers products, we are not making any suggestion or recommendation to you about a particular product. Offers of finance are subject to a separate assessment process by the provider and subject to their terms and conditions. If you feel you have a complaint, please read our complaints section which is contained within our terms and conditions.
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