by Indigenous, for Indigenous – light up the highway
This success story is an example of thornmoney’s wide asset appetite. See how we help this Indigenous-owned company get their specialised equipment.
This client is an Indigenous business that provides a comprehensive range of equipment and gear to their clients via rental or hired instalments. What makes them distinct is the capability to deliver end-to-end solutions for construction projects, ensuring the sites run effortlessly and efficiently.
They set a goal to become a prominent supplier for large infrastructure projects of mining, corporates and government departments on the eastern coast of Australia. As an Indigenous establishment, they have played a pivotal role in the First-nation people business network, helping others thrive.
The client was seeking a fund of $140,000 to buy five mobile light towers to support their highway construction projects. The assets would enable them to work at night time by lighting up the highway. Categorised as secondary assets, the brokers chose thornmoney as their first option because we have an open mind on secondary and tertiary assets. Therefore, to progress the deal, the broker contacted their local thornmoney Business Development Manager, Chris McCall.
the solution: thornmoney for Indigenous businesses
Considering the application, Chris found the light towers were specific to their work, enabling the construction to happen at night. He also recognised the client’s business performance and the diverse experience of the directors. They had a healthy ledger and had won several contracts from the government. The credit team was also confident with the assets since they have good market value and serial numbers.
The application advanced smoothly and swiftly. The Broker Portal also helped the broker to proactively submit and track the deal progress, contributing to the quick turnaround.
The cooperation between the broker, BDM, credit team plus the portal technology helped the client get the required equipment for their task. Both the client and the brokers were happy with the hassle-free process and the smooth system.
funding options tailored to businesses
Thornmoney is willing to assist all Australian SMEs, in acquiring specialised equipment. Contact our BDMs today to discuss how thornmoney can help light up your highway with cashflow finance solutions for your business, leaving you to get the job in hand done!
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