Case
Studies
7. Rural Business Recapitalisation
A young couple in rural Australia commenced business as Carriers with capital raised from a Bank on the security of their home to purchase vehicles and equipment.
They had secured a nationwide subcontract delivering specific goods throughout Victoria. The Principal failed and they were not paid for work completed. The loan got 3 months in arrears and their Bank appointed a Liquidator to their Company who in turn seized the Business assets whilst the Bank sought to take possession of their home. Notwithstanding that they had secured a new profitable Contract, they were unable to obtain a release of their securities.
Eastwood Securities provided the required refinance on a 60% lend against their rural home together with a small loan on their parents’ property.