As a professional landscaping architect Jennifer Wang worked with multiple firms in Australia. But there always comes a time when a professional feels the need to create something of their own. A couple of years back, the idea of starting her landscaping business crossed Jennifer’s mind.
But she wanted to take one step at a time. She started by quitting her job and working as a freelancer to build a network. That went on for a year, and then she felt ready to establish her landscaping business, in which she did invest the little savings she had. However, going forward, that was not enough. Soon her finances started falling apart. That’s when she reached out to Broc Finance for low doc business loans.
Jennifer’s business was new, with a handful of clients and her financial documentation was not in the best shape. Her trading history was just 12 months old, and she had no security to apply for secured business loans. Realizing her situation, Jennifer started searching for private lenders to secure funding.
But, it was a challenging task, and even then, she was not getting a favourable deal. While speaking with a client, she got the idea of reaching out to a finance broker. That’s when Broc Finance popped on her search results. She spared no time to connect with our experts.
After going through her financials and overall state, the best we could offer was low doc business loans. It would suffice for her lack of documentation and lesser trading history.
She needed the finances to get equipment, hire staff, and lease an office where she could attend to her clients. It is no run-of-the-mill landscaping business. She has a specialization in landscaping and architecture. Jennifer combines her expertise in both to create unique landscaping designs for residential and commercial clients.
Eventually, she would need a vehicle as well. However, that was the second phase of the financial aid. We felt it best to start with low doc business loans. Its repayment would improve her credit score and overall financial health. She could leverage that to source equipment and vehicle finance in the future.
Considering all aspects, we started our search for the perfect lender. We went through multiple lenders within our network and found the two most suitable loan products for Jennifer. After going through all the aspects Jennifer chose the one that suited her needs the most. It took her around 48 hours to get approval and then fast access to the cash.
In just a few months, the cash flow of the business improved due to the boost from the low doc business loan. Jennifer was able to expand her operations, diversifying them using her new resources. So far, her business is going smoothly, generating decent profits. Her next target is buying a couple of vehicles for the staff and herself. We are in touch with her, and very soon we will be arranging equipment finance for her. Reach out to us if you want to excel in your business goals like Jennifer Wang.
Saroj is the Head of Lending at Broc Finance. He comes with 13+ years of experience in small business lending and has a knack of structuring complex deals and get the best outcome for his customers.
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