Seeking liquidity to cover expenses

A construction business was referred to Steve at Venro. The client did not want to use residential security and was seeking $100k to assist with cash flow. The traditional tax returns were not available, and they were exploring other options. As the business was in the construction industry, they had to wait for progress payments to be made, and this created an immediate need for liquidity to cover their expenses.

Lending based on trends

We were informed that there were no security and tax returns available for the business, so we decided on an unsecured business loan. We suggested utilising financial institutions that offer fintech services, which can run an algorithm to identify lending capabilities based on trends. This would help us understand how the business is performing and whether funding options are available. We explained to the clients that the interest rates would be higher than traditional funding sources, but this wasn’t a problem for them as their primary goal was to improve their cash flow.

The Venro solution

At Venro, we identified an opportunity to approach various business loan lenders operating in the fintech industry. To do so, we only needed an ABN and a secure link to the business account. We used an algorithm to determine the lending capabilities and whether the loan was secured or not. We approached 3 different providers and formally applied to the preferred options.

The Venro service

We successfully provided the required funding of $100k within just three business days. The client was more than satisfied with the terms and conditions we offered, and we were able to meet their expectations. We pride ourselves on our ability to deliver prompt and reliable service to our clients, and this is just one example of how we go above and beyond to meet their needs.