Fast Facts

Business: Ladies fashion wholesaler

Challenge: Needed a second loan to pay suppliers

Existing Debt: $200,000 loan with a non-bank lender

Solution: Secured Business Loan

Loan Amount: $250,000

The Challenge

A ladies fashion wholesaler was approaching its peak sales period, but had to urgently purchase additional inventory from suppliers in order to fulfil customer orders. The wholesaler required a loan of $450,000 to pay her suppliers but the first non-bank lender she approached was only willing to lend her $200,000. The business owner contacted Bizcap via her broker, asking if we could extend her the remaining $250,000.

The Bizcap Difference

Unlike other lenders, Bizcap is willing to extend loans to customers with existing debt, taking a position behind the existing loan facilities. We came through and, taking the security of a second mortgage over a property belonging to the business owner, extended the business a loan of the further $250,000 it required within 24 hours.

The Outcome

The business owner used the funds to purchase inventory, and capitalised on the growth opportunity of a surge in sales during the busy Christmas period.