It’s always good when all the hard work we do pays off for our clients. We’ve had a record couple of months recently with the obvious reward that is associated with that. The less obvious result is what it means for the people that we work for – our clients.
Commercial Clients
A couple of weeks ago a transaction that we’d been working on for four and a half months settled. Our clients acquired a wholesale bakery on the Gold Coast and by all accounts are doing well from week one. We’ll pop in and see them in a couple of weeks’ time.
What does this mean for them?
The deal involved two guys who worked together. Both uprooted their families in Sydney and moved them to the Gold Coast. Prior to approaching us (they were referred to us by their accountant) they had been rejected for funding by a few lenders. This will change their lives forever. We think for the better as they will no longer be employees and they will continue to be successful.
On Thursday last week a transaction that we started working on 13 months ago settled. After many false starts (with private funders not actually having the funds) and much pain, anger and anguish they fell over the line. Despite all of that we wish them tremendous success.
Last week we were referred a transaction for a dairy company. We hope to have a positive answer today for them. They’d been unsuccessfully looking funding for a while until they turned to their accountant who referred the transaction to us.
The same accountant referred a wine company to us. It’s fair to say that getting sub-debt for a winery is a difficult transaction but we’re happy to ask the question of our wonderful (and growing) funding base. We’re looking for a $5M debt facility for a Trade Finance funder. This is not an easy transaction but the principal has a good history of starting up funders and selling them a few years down the track. We’ll keep trying. This is not a bank transaction.
We’re also looking for funding for a chap that has his hands in far too many pies but is entirely bankable. Security is property and he has bank facilities and looking to acquire another commercial property. He’s looking for a $1.7M facility and is happy to provide his property (valued at $3.5M) as security. This, also, is probably not a bank facility.
Home Loans
This month sees a record month for home loan settlements for TFG. What makes us especially happy is funding young couples into their homes. We have a few of those this month.
Investment Loans
We work with several property advisers who refer transactions to us. Most of these referrals are unable to be funded and we have to be brutally honest with our clients. One referrer has sent us around 20 clients in two weeks. We think we can fund three of them with an outside chance of another two.
We also have several home loan and investment loan refinancings this month.
SMSF Lending
When we first entered the world of broking we didn’t think we’d be arranging funding for Self Managed Super Funds. It’s now a stable part of our business. We have three on the go at the moment.
Funding for HNW
We’ve arranged funding for a HNW this month and are working on two more. We need decent private bankers though as the processes in the major banks appears to be overly cumbersome and slow. For those bankers that are interested please call us.
We’re especially chuffed when an existing client refers business to us. While this happens frequently, it never ceases to please us. It means we’ve served them well.
We hope that we have provided the basis for new beginnings for the clients that we’ve already funded. We further hope that successfully arranging funding for those that are yet to be approved also provides new beginnings for them.
So, if you’re a funder and are interested in any of the above transactions. Please call us. However, our preference is to hear from clients to see if we can help them into new beginnings as well.