In this article:
A bit of background
This highly diversified residential builder is based in NSW and QLD.
The business has grown significantly in its 12 years of operation. The turnover increased from $12m in 2010 to currently over $100m and now employs 100 staff.
This business required short-term funding now to purchase building supplies. Due to the rise in supply costs and running concurrently over 500 projects.
The business passed on the increased costs to their customers. Due to the nature of the construction industry, they were unable to recoup this money back in less than 3 to 6 months.
How did Banjo help them move forward?
Banjo was able to fund a $1.5M working capital loan across multiple entities within this group over a 12-month term in 1 day.
The broker was able to provide the documents requested, understood the client’s business and was able to answer any/all questions they had. Including obtaining information from the accountant and business owner.
The broker was able to speak directly with Banjo’s Credit Team to help get this deal across the line.
For any questions, please reach out to your BDM.