Amid the current economic uncertainty and upcoming general election, there’s a lot of talk about people deferring decisions, waiting for “the right time.” But at Merx, we continue to see business owners who are moving forward right now, growing their businesses, and supporting their families. We’re proud to be partners in their projects.
This month’s client success stories are good examples of the type of business owners we would like to help more and more. People with assets they’re ready to leverage, comprehensive plans they’re primed to execute, and the capacity to use our funding – which ranges from $50k to $500k – to generate wealth.
Do you have clients who fit this profile? Please don’t hesitate to contact us; we’re open to discussing new opportunities.
ASSET IMPORT FINANCE
Client Scenario: This client, a construction service provider, was considering upgrading their machinery by importing new drilling equipment from overseas. Despite having a clear vision of how this equipment could elevate their construction business, they were unable to secure the necessary funds. Unfortunately, their bank would only provide funding once the machine was already in New Zealand and operational. Looking for a more feasible solution, they turned to us.
Merx Solution: Spotting the potential in this situation, we offered an outside-the-box solution. We provided a $420k loan based on the value of the incoming machine, backed by a second mortgage over the client’s house. This helped bridge the two-month gap required for the machine’s arrival and setup, after which they were able to refinance with their bank as planned. Thanks to the new drilling equipment, they have enjoyed a 30% increase in their annual revenues – a testament to proactive problem-solving and strategic investments.
BUSINESS EXPANSION
Client Scenario: Here’s another example of timing mismatch with traditional funding sources. This client, operating in the hospitality industry, wanted to open a new venue and needed immediate funds to cover opening costs. However, their bank was reluctant to provide the necessary funding without evidence of positive cashflow, which of course was not possible being a new establishment. That’s where we stepped in.
Merx Solution: Responding to this urgent need with a flexible approach, we provided $90k in working capital, supported by the client’s own equity and investment property portfolio. These funds enabled them to complete the project and start trading within four months. Then, with evidence of cash flow, they were able to refinance with their bank. Once again, a client success story that highlights the role we can play in supporting business owners when time is of the essence.