hospitality

requirement

$500,000

facility

Trade Finance & Equipment Finance

client background

NSW based Food Franchise business with a focus on providing high quality burgers out of large, well equipped stationery food trucks. Other similar food items are available however the main concept is the provision of high-quality American style burgers but based on differing themes from around the world that are highlighted in the business’ ‘Burger of the Month’. The business currently has 6 locations in NSW namely, Windsor, St Marys, Shellharbour, Edgeworth, Haberfield & East Gosford.

client challenge

The business is already a Moneytech client having opened a Line of Credit Facility in January 2022 just as the business was rapidly increasing revenue post COVID lockdowns. The client came to Moneytech to increase their facilities to match the growth they are experiencing.

moneytech's solution

1) Import Trade Facility for import of trailers only converting to Chattel Mortgage (this will replace the current use of the LoC for the purpose of purchasing Trailers). 2) Equipment Finance Facility to fund trailers once they arrive in Australia. 3) Reduction in client’s existing LoC. The LoC will be used to buy the equipment for the fit out plus related costs.

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