Working capital to expand into aged care
The client operates an established NDIS business and identified an opportunity to extend its services into aged care. To fund the expansion, it required a flexible working capital facility of $500K.
Three lender conditions to resolve before approval
The lender supported the proposal in principle but set additional conditions. It requested further bank statements to evidence liquidity, including personal financial information the directors preferred not to disclose.
The property offered as security was held in a trust. Separately, the lender required a corporate guarantee before it would proceed.
Negotiating a structure that met each requirement
Broc worked with both the client and the lender to understand the purpose of each condition. We negotiated the structure and agreed an alternative way to satisfy the liquidity requirement that respected the directors’ position.
We then coordinated the trust security and the corporate guarantee, providing the lender with clear documentation at each stage.
Full $500K facility approved and available to draw
All additional requirements were resolved and the $500K business overdraft was approved and made available. The client now has working capital in place to fund its expansion into aged care, drawing on it as needed.
