LeaseWise Australia Pty Ltd

Case Studies

Case Study Number 2

The owner of a country-based business wanted to fund the cost of leasehold improvements to one of his several shops and his bank had refused to extend further finance until the previous year’s tax returns had been finalised.

He was not in a position to comply with the bank’s requirements for at least two months. He had already finished most of the shop fit-out and the contractors were looking to be paid.

Leasewise Australia was approached to assist but shop fittings are asset types we do not finance.

In discussions with the business owner it was revealed he had an old and rare car that could possibly be used as security to raise the necessary funds.

Arrangements were made to inspect the car within 24 hours to ascertain if it was acceptable security for the amount involved.

After consulting with a vintage motor vehicle industry expert a positive decision to assist was quickly made and the business owner was in a position to pay the contractors the very next day.

Another good outcome produced by Leasewise Australia applying flexibility and being quick to respond.

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