At Co-Pilot Finance & Insurance, we often say we can secure financing for any asset with a serial number, and this success story certainly supports that claim.
Client Background and Initial Requirement
Our client, a multifaceted farmer, aimed to purchase a diverse array of farming equipment from five different suppliers to support and grow their business. The equipment included:
- Water troughs for sheep
- Hydraulic hoof trimming chute for comfortable hoof care
- Hay mower
- Installation of a flood wash system
- New irrigation equipment
Dealing with Financial Barriers
Our consultant CJ faced two main challenges:
- The client’s financials showed a previous loss.
- The application’s complexity due to the high number and variety of assets required time and expertise.
Strategic Solution Implementation
Leveraging his 30 years of financial expertise, CJ addressed the financial loss by adding back depreciation, thus demonstrating the client’s ability to service the loan. This adjustment transformed the business’s financials from a loss to a strong profit.
Regarding the variety and number of assets, CJ utilised the strength of our lender panel to find a lender willing to accommodate the diverse assets and the size of the loan. He also diligently ensured that all required invoices and information were provided by the client for the application.