The Williams’ Business Expansionedit
Mr & Mrs Williams are self-employed printers who have built up a solid and loyal customer base over a number of years. Since they started their business, printing technology has significantly advanced. There are new machines that require substantially less ink than their current equipment, which would ultimately reduce their costs and improve efficiency and profitability.
However the cost of the machine and its installation exceeds $180,000. The Williams’ have diligently put any savings towards their mortgage and only maintained funds require for the day-to-day business operations.
They have been to a number of banks to try access the equity against their property, however none were prepared to allow them a sufficient amount to invest in the new equipment.
Whilst they have excellent repayment history on their mortgage, they have a telco and utility default on their VEDA report. Both are under $750 each.
The RedZed Reward product allows them to access equity up to 85%.