Fusion approves finance after banks declined loan request
With banks tightening small business lending, entrepreneurs and business owners are searching for alternative, non-traditional, financing solutions to grow their business.
The client wanted to purchase a 2002 Nissan Tilt Tray Truck for $55,000 in a private sale from a business that was closing down. The truck had been reconditioned within the last 12 months and was in excellent condition.
After approaching a number of banks and having gone through the arduous application process to finance the deal, the client received the same answer from various banks, the truck was too old to finance.
STEP 1: Our introducer presented the client’s situation to Fusion Money.
STEP 2: Fusion Money reviewed and assessed the case.
STEP 3: Fusion Money presented a solution.
Fusion Money provided a co-lending solution with our introducer to assist with financing the truck.
Assessment, approval and settlement were achieved with a quick turnaround and the client was able to pick up the truck.
The customer had a strong business and the directors were well asset backed. The new lending facility provided by Fusion Money took security over the 2002 Nissan Truck.
Fusion Money provided a flexible bank alternative solution, ensuring a quick turnaround to finalise the purchase.
What was in it for the introducer?
- After approaching a number of banks and finance institutions, who declined funding, Fusion Money assessed the opportunity and granted funding through co-lending with the introducer.
- The introducer was able to secure funding for their client and maintain the long term relationship by securing a co-lending deal with Fusion Money.
- The introducer earned interest on the money they co-lent with Fusion Money
- The introducer earned brokerage on the transaction
Fusion Money is the only Australian asset finance co-lending provider to the SME Market. Our experienced team partner with introducers to support organisations with flexible and tailored finance solutions.
Specialising in finance for wheeled assets, equipment and working capital requirements, we assess every opportunity presented.
Striving to maintain the highest standards, we pride ourselves on being respectful and authentic. Listening to our clients needs and safeguarding their interests.
Our philosophy is to support our partners, understand their needs and exceed expectations through providing efficient, courteous and friendly service.
Understanding the added value of collaboration, we believe that a shared sense of purpose, based on respect, accountability and open communication safeguards success.
Dedicated to building business relationships, we place our partners and customers at the centre of everything we do.