A Case Study
It was around 2015 when two young men approached Laurentide for assistance to purchase a Toyota Hilux work vehicle each to get their start-up landscaping business off the ground. They specialised in landscaping operations in the Sydney area, with a focus on the Inner West and Northern Beaches.
Although they were only in their first year of trading — and it can, of course, be difficult to obtain money when you’re in start-up phase — the landscapers needed to upgrade their work vehicles desperately as the current ones were extremely unsuitable.
Laurentide’s Kevin Wickenden and Tina Clark worked with the pair to develop their business stories to help them secure the finance required. It was clear that they were in start-up phase but they had plenty of passion, enthusiasm and energy to see them to the next stage of business. Kevin and Tina guided them to write their business’s story (ie. how the company had started, an outline of how the business was performing and the future work they already had on their books) to produce the documentation necessary to secure the loans for the two utes. They also advised the young men to add a small deposit, in order to lessen the risk and ultimately secure the bank loan.
The company’s forecasted earnings helped the owners to secure the loan, as it was clear they would be able to afford to make the regular loan payments as well as cover the service and maintenance of the vehicles, plus pay off any interest accrued.
Business diversifies, then flourishes
In the following years, Laurentide helped this start-up to secure additional equipment such as a backhoe that was valued at $20,000. However, soon after this big ticket purchase, the amicable business partners decided to split up, as they each wanted to take the business in different directions.
At this stage, Laurentide helped each newly independent business owner to refinance their current equipment under the appropriate new business name, which happened seamlessly. Since then, one of the founding partners has closed operations, while the other has continued to invest in and grow his thriving landscaping business by using equipment financing when necessary.
Over the past five years, the successful business owner has approached Kevin and Tina, whom have worked closely as a team to secure the finance for at least five more pieces of equipment and/or work vehicles to support his business’s rapid growth. From cars to heavy machinery, the equipment purchased for this thriving landscaping company includes a second-hand excavator, a bobcat and multiple work vehicles for its growing team.
A luxury car pays off
In 2019, the client approached Tina to secure a brand new company car for himself — a Toyota Landcruiser — that was worth just shy of $100,000. Tina interviewed the client over the phone and personally put together a finance application within four hours of the business owner’s request for help and acceptance of quote. The loan itself was finalised and approved by a leading Australian financier within 48 hours of the client’s initial call.
Of course, the client was absolutely thrilled with the prompt turnaround of his application and the procurement of the loan and financing. He had his new car within a week! Of course, this deal was struck pre-COVID — and nowadays clients are aware that COVID-19 brings about its own set of rules and challenges that Tina and Kevin are experienced at navigating on behalf of their clients.
Throughout the coronavirus pandemic, it’s notable that this young company has managed to keep payments up-to-date and continues to trade and remain stable.
What’s more, this highly successful young businessman regularly comes back to Laurentide for financing support, because he knows first-hand that Tina and Kevin can be counted on to know his business inside and out, and make the financing side happen quick-smart. He also regularly refers other businesses — as well as family and friends — to Laurentide, to get their finances in place for vehicle purchases, as well as new and second-hand machinery and equipment.
Today, this company is one of the most well-known landscaping businesses in the northern beaches, developing its client base and revenue rapidly. Laurentide afforded them the opportunity to expand their range of services and grow their business to help them become the impressive company they are today.
If you are looking for a friendly, trustworthy and experienced team to help you finance and grow your business, Kevin and Tina at Laurentide know how to see your deal through. You can rest assured that Laurentide is fully accredited with all of the major Australian fund providers, meaning your loan is safe, secure and affordable. Call Laurentide today on (02) 9954 5044