A family trust, owning multiple trading businesses, sought financing to purchase a wholesaling business from retiring vendors. This acquisition was intended to complement their existing operations. However, the borrowers faced difficulties with other lenders due to the complex nature of their group financials and their existing business and personal commitments.
Loan Amount: $605,000
Purpose: Business Purchase
Security Location: QLD Metro
How VMG Helped:
VMG provided a tailored solution by assessing the borrowing request solely based on the vendor’s financial statements, separate from the other entities within the Group. They also added back $100,000 in dividends that were allocated as the vendors’ wages, improving the overall financial outlook. Confident in the Group’s ability to manage its existing debts, VMG approved the $605,000 loan without considering those commitments for servicing.
This approach allowed the family trust to successfully acquire the business and expand their operations.
Visit VMG’s website to Find Out More.
For more information, please download their latest Product Pack here and their Niche List here.
Refer to your VMG BDM to discuss any deals.
