Client Scenario: This month, we were approached by a retailer who was planning to expand their business into new premises, and wanted to raise funding to complete the fit-outs of their new location. Their mainstream bank declined to lend, but we were able to step in and help provide the necessary funding.
Merx Solution: One of the key benefits Merx offers is our ability to comprehensively assess our clients’ plans and projected returns, regardless of the industry they operate in. We look at their current financial position, the viability and risk of their projects, and whether the funding they require is adequate to unlock their potential.
In this instance, we were able to see that the business was profitable and poised for growth. We have funded $50,000 to repay over a term of two years, secured by general security over the business and a second mortgage over the Director’s personal property.
Client Scenario: This established hospitality business contacted us for funding assistance to cover the cost of their business restructure. They required $100,000, which they weren’t able to secure through mainstream banking sources. We listened to their plans and were convinced of the feasibility of their project.
Merx Solution: We looked at the business’s profitable track record and provided a two-year business loan of $100,000 to make the restructure happen. The funding is secured by general security over the business and a second mortgage. Using term debt, we were able to tailor the funding to the business’s needs and their projected repayments, with weekly repayments that match our client’s cash flow.