Business Loan - Case Study 2
Updated: Dec 5, 2022
We recently worked with a carpenter from NSW The business has experienced high work volume and demand for service went over the roof, unfortunately due to supply chain restriction and limited raw material, the business cash flow was restrained and ATO Debt is accruing from recent BAS lodgement.
Industry type - Trades
Time in business -2 years
Use of funds - ATO Debt
Loan type - Small Business Loan
Loan amount - $39,000
Loan Term - 12 months
Verification document required
Last 30 Days bank statement
Copy of the 2 years supply contract
Up to date P&L statement and Balance sheet summary
Company tax return
Cash flow projection
While most hospitality business was greatly impacted to due Covid-19 restriction, the client was able to show strong financial position, The up to date P&L statement is showing net profit and was verified with the reported company tax return, Accountant Cash flow projection shows increased annual turn over as a result of the supply contract, the business also has low Debt to Equity ratio.
The application was approved, and the fund was provided in 48 Hour.