mechanical workshop

requirement

$250,000

facility

Low Doc Line of Credit

client background

Four years in business with a turnover of $3 Million p.a.

client challenge

The business provides a range of automotive repair and maintenance services to the general public and specialises in fleet repairs for taxi owners. Bookings had been growing month on month and the business required a facility that would allow them to purchase parts and other consumables. The business had multiple directors who albeit all owned property, the business was seeking a facility that did not require property as security.

moneytech's solution

Moneytech provided a Low Doc Line of Credit allowing the business to purchase parts and fulfil the growing repair division. On each drawdown and payment to their supplier, the business is given up to 120-day repayment terms to boost their working capital cycle, all without bricks and mortar security.

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