civil works

requirement

$600,000

facility

Equipment Finance & Line of Credit

client background

A newly established business and director with 20+years of experience in wet hire of plant and machinery.

client challenge

The client was referred to Moneytech through their finance broker after exhausting all efforts in sourcing equipment finance through traditional banks. The business was established in 2019, after the director was able to leverage their industry contacts to secure large plant hire contracts with some of Australia’s largest civil works and mining companies. The business was recently approached by an existing customer with the opportunity to take on a lucrative works contract that required the purchase of a New Kenworth T659 Water Truck to complement their existing Grader fleet, however with limited trading history and the specialised nature of the security, this business required a lender with more flexibility, including financial forecasts from the new contracts to service the new facility.

moneytech's solution

Moneytech stepped in to provide the client with a $550,000 Equipment Finance Facility (Chattel Mortgage), with customised repayments over five years, giving the business access to the capital required to purchase the new equipment, take on the new contract. Moneytech also provided a $50,000 Line of Credit Facility to assist the business pay subcontractors and bills, freeing up cash and providing the directors the peace of mind in being able to meet customer demand and pursue growth opportunities.

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