We have recently noticed a fresh wave of optimism rippling through the business and property investing landscape. Last month saw an uptick in activity, and at this stage, it is difficult to tell whether this could be an effect of the Reserve Bank’s latest OCR announcement, or simply people adjusting to our current economic environment.
Whatever the reason, as you will see in our latest client scenarios, we are happy to contribute to this newfound confidence – by helping business owners move forward with their pursuits.
As always, thanks for your ongoing support and referrals. Please don’t hesitate to contact us if we can assist your clients in any way.
REBRANDING AND REFURBISHING
Client Scenario: We have recently been approached by a couple of business owners looking to execute important projects within their respective companies – namely, rebranding and refurbishing initiatives. After experiencing delays with their mainstream banks, they reached out to us to expedite their plans.
Merx Solution: Having assessed the strength of these businesses and confirmed the quality of their plans, we swiftly stepped in to provide the necessary funding. We granted $120k to one business owner for their refurbishment project, and $250k to the other for rebranding, both backed by second mortgages on their houses.
This is a good example of how our lending solutions are tailored to the diverse needs of our clients. We believe that the potential of a project is not limited by its nature, but defined by its quality. If the venture promises growth and progress, we are here to support it.
WORKING CAPITAL
Client Scenario: This client had bought a construction supply business, making the transition into self-employment. In purchasing the business, they had remortgaged their house to another bank, but in the lead-up to a busy season, they didn’t have enough business working capital to run their new venture efficiently.
The bank was reluctant to provide the additional funding that was needed because, as new clients, they didn’t have the track record or the historic financial data to support the funding within the bank’s parametres. So they approached us for secondary funding.
Merx Solution: We assessed this client’s circumstances and were able to get to the heart of the issue quickly. We then provided them with a six-month $150,000 loan, backed by a second mortgage over their house, to be repaid once the client had their books in order. Thanks to this short-term business loan, they could focus on running their business without the hassle of lengthy bank negotiations.