Client was seeking finance to purchase an additional Tip Truck required for work on the Westgate Bridge Tunnel Project.
Purchase price of the proposed Truck was $170K, however clients total aggregate exposure with us was still under $500K.
This meant we were able to provide unconditional approval under our NO DOC POLICY (no financials) even though client had other Truck and Trailers Assets under finance.
This is yet another example of how our flexible product matrix provides our customers access to funding like never before.
KEY POINTS
- Private sale with no valuation fee required
- No financials as total exposure was under $500K
- Client was able to take on more work an increase turnover
