Three Attempts to Borrow Money. No Success. Am I Fundable?

Thank you for getting in touch and for being so open about what you have been through. I can completely understand why these experiences would lead you to that question.

I would love to unpack this with you properly. Is it ok if I ask you some questions to better understand what happened in each of those situations?

I am sorry to hear this. I can completely understand why those experiences have left you feeling the way you do. Six months is a very long time for a process to run without a clear outcome, and a working capital product that worsens cashflow rather than improving it is not the right fit for that situation.

What I can see from everything you have described is that the issue is not resting with you. In each of those situations, the strategy and preparation work that needs to happen before anything goes to a lender either did not happen or did not go far enough. That is a process problem, not a you problem.

I can already deduce from what you have shared what your goals are, but I would love to ask you directly. If you had the perfect finance structure in place right now, what would it look like? How much would you have available, what equipment would you own, what would your business look like day to day?

When you lay it out like that it is actually three clear things, not one impossible thing. And I work with situations like this regularly. I layer finance options together and work to a timeline to deliver them in phases, step by step, so that each piece builds on the last without creating problems for what comes next.

In what timeline would you like to achieve each stage?

To understand all of the options available to you I will need some information from you as soon as possible. Here is what I need:

Two to three years of financial statements and tax returns for all entities in your group. Bank statements, which I will send you a secure link for so your bank emails them through a portal directly. Your identification documents. Accounts payable and receivable ledgers and an example of your process from work order to invoice to payment, so I can understand your sales cycle clearly. And rates notices and loan statements for any existing borrowings or property you hold.

Can you get most of that to me by tomorrow?

The bank statement link is secure. It prompts your bank to email your statements through a protected portal. The statements come through with a special code that allows some lenders to complete a full credit analysis without requiring your financial statements at all. This means we can move very quickly on the immediate cashflow pressure, sometimes as fast as one business day.

That is not where we stop though. It is the first step toward building the full lending structure that meets your goals across all three phases.

On communication, I use a ball in court model. If the ball is with you I am waiting on something from you and I will follow up daily. If the ball is in my court I will update you daily regardless. Either way you will hear from me every single day on what is happening. I will not burden you because I understand you have a business to run. What helps me most is you providing what I need as fast as you can. The faster the information comes, the faster I can work.

It does have an impact, but the fact that there was a dispute before the default was lodged opens the door to potentially having it removed from your credit report. This process can take four to six weeks to complete. What I would like to do is add a Phase 0 to your plan. Once I have run your credit report, I will review it with you and introduce you to a credit repair agency who have had strong results in situations like yours.

In the meantime, we can work with a lender to arrange your urgent cashflow injection while the credit repair process is running, and then refinance to a better priced facility once your credit score has improved.

I do want to be honest with you. The default removal is not guaranteed. If it cannot be removed, we can work around it. And once a default is paid it will drop off your credit report five years after it was first placed there. So if it has been two years, it will be gone in another three regardless.

Do you own a property?

Very much so. The equity in your home provides lenders with significant comfort and helps with pricing, even with the default on your file. It means we can push for a better deal across all phases and gives us more options than you might have expected walking into this conversation.

It would also be worth waiting until the default is removed before we approach the equipment finance if we can, because the cost impact on a $400,000 facility will be considerable. That said, if you need the equipment before the credit repair is complete, there are lenders who can help and your property equity will support that conversation.

I would absolutely love to meet your accountant. It is very important that we seek his advice on your finance structures before anything is put in place, so your finance strategy and your tax strategy are working together rather than creating any unintended consequences down the track. Finance and tax decisions should never happen in silos.

It is my pleasure to be here. I am sorry about what you have been through. While I cannot guarantee any specific outcomes, I can assure you that I will do my absolute best to support you through these phases and beyond. It will be a privilege to be part of your team and to see you and your business grow from strength to strength into the future.

I will send the paperwork over to you in the next ten minutes. And I will always be here if you have any questions.