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Kneading dough?

14 February 2018,

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RedZed: Product explainers to help you grow your own way

The situation

Dana Eastwood spent 10 years as the head baker of a large department store, kneading, baking, and icing her way towards mastery. After managing her craft successfully at such a large scale, Dana decided she should rather work for and grow her own business.

14 months ago Dana and her partner Alex opened their own bakery. Dana’s years’ of experience meant that the business got off to a flying start, with plenty of customers and a great reputation among the local community.

However, a conservative financial approach to their new enterprise meant they found themselves short of capital when faced with a clear opportunity for growth.

Dana and Alex were surprised to find out from their mortgage broker that most of the options available to them required a minimum of two years full financials before they would be considered for finance. What to do?

The solution

With clean credit and strong repayment history their mortgage broker applied to RedZed who can accept businesses with a 12 month ABN.