Hello and welcome to Banjo Loans Deal of the month My name is Jason Gatt, and I’m the Partner Manager for VIC, WA and Tassie.

I’m excited to share this working capital loan deal with you. It’s for a major supplier and installer of motors for wind farming construction.

Based in Australia, the business is owned by a Denmark company who was then owned by other international firms. They have also been providing ongoing maintenance services for the entire windfarm cycle for almost two decades.

The business has a massive world-wide presence, currently servicing over 17 different countries. Established in 2004, this innovative company Established in 2004, this innovative company and currently has an annual turnover of $25 million.

Approaching Banjo Loans, this business required funding to develop new technology that would replace the usage of expensive cranes for their crane maintenance services arm. Instead of using expensive cranes to lift a Instead of using expensive cranes to lift a would enable them to push the motor into the air from underneath, reducing their largest expense and save between $2 to $3 million dollars a year.

This scenario along with the Australian entity being owned by several overseas firms led to a high level of complexity. The businesses finance broker needed a lender who could, firstly, provide the full loan amount and secondly could understand and be willing to work with the complex ownership structure.

Banjo’s approvals team has the expertise to drill into the ownership structure, and the broker took comfort that we could provide the full $1,000,000 dollar loan amount requested.

A 24-month working capital loan was funded quickly and they now can invest that money to result in the long-term efficiencies in its operations by saving $2-$3 million annually.

Thanks for watching, and if you have customers, you feel could benefit from a Banjo working capital loan, please do not hesitate to call me. Also, please keep an eye out for our soon to be released Asset Finance product.

For more please follow us on LinkedIn at Banjo Loans and subscribe to our YouTube channel. 

Hi, and welcome to the Banjo Loans Deal of the month. My name is Brendan Widdowson and I’m the Head of Sales at Banjo.

Today, I will share a recent Working Capital Loan scenario in the retail or grocery sector. This client is an established business owner, who has set up and run several IGA supermarkets and hospitality venues in NSW.

The business had an opportunity to secure a lease and establish a brand-new IGA supermarket. The newly leased land is in an up-and-coming suburb in Queensland, surrounded by several housing developments that require a local supermarket.

The client funded the fit-out of the new premises with working capital from the business, however, required additional funding to purchase stock and other equipment. A referral partner sought out Banjo to assist with this, as they knew we would be an ideal lender for this client.

Despite establishing a new business, the client was eligible for a Banjo loan as they have been successfully running the existing businesses for the past 4 years, with an annual turnover of $1.8M. Due to the business owners’ other ventures performing well, Banjo’s credit assessors recognized the strong financials and ability to repay the loan.

A $250,000 36-month Working Capital Loan was provided within 3 days of their application so the business could move forward with its new venture.

Thanks for watching. If you have any customers you feel could benefit from a Banjo working capital or asset finance loan, please do not hesitate to contact your local Business Development Manager from Banjo.

For more please follow us on LinkedIn at Banjo Loans and subscribe to our YouTube channel. 

Hi, and welcome to Banjo Loans Deal of the month

My name is Nick Rogers, and I’m a Partner Manager for VIC and SA

This business is a privately-owned Australian retirement village development and management business. An established business in operation for almost 15 years and has an annual turnover of $16 million, it currently comprises of 404 completed and occupied independent living units.

Their growth goals aim to develop up to 1,110 units. In their plan, their vision is to provide residents with commercial and retail spaces, a 9-hole golf course, and related recreational facilities.

Historically, the retirement village achieved new settlements of 45-55 per year, however the flow on effects of COVID saw the settlements reduced to as little as 17 in FY22. This resulted in the cost to complete funding ratios to be exceeded, as well as delays in earth works and building.

The business approached Banjo for our short-term funding solution in order to pay out builders for outstanding claims, for assistance with the earthworks/construction supplier and to cover GST payments for the following 2 months.

Banjo’s credit assessors reviewed the credit factors and discovered that the directors had a strong commercial background in finance and were considered high integrity.

This business was also a leading retirement village in Australia and was highly profitable.

Due to these factors, Banjo assisted with a 2 to 6 month Single Pay (bridging finance) Loan of $1,000,000 within 4 days of application approval so the business could progress with its vision.

Thanks for watching, and if you have customers, you feel could benefit from a Banjo Working Capital Loan, please do not hesitate to your local Business Development Manager from Banjo. Likewise, please keep an eye out for our soon-to-be-released Asset Finance product.

For more please follow us on LinkedIn at Banjo Loans and subscribe to our YouTube channel. 

Hello, my name is Jason Gatt, and I’m the Partner Manger at Banjo Loans for VIC/WA and TAS.

I’m excited to share our deal of the month, in which Banjo repeatedly helped this structural and architectural steel fabrication business overcome cash flow issues and manage its working capital better.

In business for 15 years, this established company have a healthy $2 million per annum revenue turnover, providing support to residential, industrial, and commercial sectors, and met Banjo’s initial eligibility criteria.

The business required operating funds as it was suffering from growing pains, cost pressures due to inflation and lagging accounts receivable that were all having a negative impact on its working capital and cash flow.

Having only borrowed from Banjo for the first time a few short months earlier, Banjo was thrilled they approached us to assist again, having been satisfied with the experience and service they received with their first loan. As Banjo were already familiar with the business and their journey ahead, we were able to increase their funding facility, and provide additional funding to assist with their general working capital and purchasing of materials.

From Banjo’s side, this client had proved to be a quality and reliable enterprise to do business with, with on time repayments on their original loan, we had no hesitation to assist this client again with another loan and help move their business forward.

An original 12-month loan of $75,000 was approved and funded, and then the subsequent additional 12-month loan of $50,000 was provided. Both loan applications were approved and funded within 2 days of the application submission.

Thanks for watching, and if you have customers, you feel could benefit from a Banjo working capital loan, please do not hesitate to call me. Likewise please keep an eye out for our soon to be released Asset Finance product.

For more please follow us on LinkedIn at Banjo Loans.