Angus and Samantha Gibney are self-employed boat builders. Business has been motoring along nicely, and now they’d like to invest a little more into their craft. Boat building has kept them busy so they haven’t had the opportunity to lodge their most recent financials.

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Their local branch manager declined their application to refinance their loan on the grounds that they needed to provide at least two years worth of balance sheets.

What’s the solution?

RedZed understands there are many ways to assess the appropriateness and affordability of a prospective loan. In the absence of the most recent financials, RedZed can accept an Accountant’s Declaration of the applicants financial circumstances.

RedZed assess the total merits of an application including recent repayment conduct, the VEDA credit file, and the applicant’s assets and liabilities. This happens in conjunction with the applicant’s accountant. RedZed was able to help Angus and Samantha to get the money they needed for their business.

All examples or scenarios are illustrative only and do not amount to endorsements. The names used are fictitious. All loan applications and requests subsequent to settlement are subject to RedZed’s lending criteria and lending policy which may be amended from time to time without notice. Fees, charges and conditions apply.