The traditional lending environment is not favourable for businesses and small property developers and the moment. Many find it increasingly challenging to fit the banks’ mould and are turning to alternative providers like us, who operate outside the box, to get their projects moving.
While new property development funding applications have slowed down, we’re being approached by people who already own land seeking our help to advance their projects. Also, those with multiple investment properties are coming to us for second mortgage-backed funding to renovate or reposition their assets.
In the business finance space, it’s still difficult to get funding through the banks, and as always, we’re here to help business owners out there who have a plan and want to get ahead. If any of your clients can benefit from our solutions, please don’t hesitate to contact us. We’ll be happy to hear from you.
Client Scenario: Recently, we’ve been approached by a retail business owner who needed funding to expand their presence. They had identified strategic locations that promised a good influx of foot traffic and an opportunity to reach new markets. However, despite their clear plans and a track record of success in their existing location, the bank was hesitant to support them.
Merx Solution: Recognising the potential in their plans and the good trading base they already have, we stepped in to bridge the gap by providing a tailored solution. This will enable the business owner to secure new locations and roll out the expansion.
SEASONAL WORKING CAPITAL
Client Scenario: The summer season always brings a surge in demand for some business sectors, and being well-prepared can make all the difference. We’ve recently worked with proactive business owners who needed funding to stock up on inventory and hire seasonal staff. Once again, despite their proven track record, their banks were unable to provide the necessary funding.
Merx Solution: We understand the cyclical nature of some businesses and the importance of operating seamlessly during peak seasons. After assessing the situation, we provided the funds they required. Thanks to this timely support, these businesses are now gearing up for the summer with all the resources at hand to meet customer demands.