GROWING WITHOUT DELAY: TRANSPORT SECTOR
Client Scenario: Our client, who operates multiple runs in the transport industry, rolled out a new growth plan earlier this year. A key factor underpinned our client’s plan: selling one of their runs to fund the purchase of new equipment required to grow into another opportunity. As anyone in business knows, timing plays an important role in the success of growth plans. Rather than delaying their entry into the opportunity and the associated equipment purchase, our client spoke to Merx about a short-term funding solution that would enable them to move forward while they negotiated the sale of their run.
Merx Solution: Secured by a second GSA over the business and a second mortgage over residential property, Merx funded $60,000 for six-months to enable our client to progress their growth plans and purchase new equipment. The funding also allowed our client to catch up on tax obligations. Once completed, the sale of the existing run will mean that our client can clear the Merx funding: a great example of how Merx can provide short-term funding to help clients move forward with their plans, without delay.
ACCELERATING GROWTH: TECHNOLOGY SECTOR
Client Objective: An established technology business with impressive and dependable plans, our client required funding to accelerate growth and realise existing opportunities.
Merx Solution: With 25% equity in property, our client had hit the maximum of their mainstream lender’s LVR criteria. We provided a bridge funding facility of $300,000 over a period of two months, secured by an unregistered second mortgage.
Outcome: The short term finance provided by Merx enabled our client to move forward with growth plans, and they have since repaid the bridging finance. A great example of how Merx can ‘bridge the short-term gap’ between goals and success.
START-UP RESOURCING
Client Objective: A start-up in the technology space, this client impressed us with their solid business plan for an established market need. While our client had equity, they were unable to prove consistent servicing, and therefore fell outside their bank’s lending criteria.
Merx Solution: Merx provided a six-month business loan secured by a second mortgage; the finance required for planned start-up resourcing and business operations.
Outcome: It’s always rewarding to see a start-up on the way to success, which is most certainly the case here. Our client has put the funding provided by Merx to good use, and we look forward to celebrating the wins of this new business.
Can we help you with fit-for-purpose finance for your growth plans? We welcome you to get in touch with the team at Merx Growth Fund.