Published on August 12, 2019

Success Story: Catering business in Sydney

Running a catering business with the ability to deliver customer satisfaction continuously can be a very big challenge. Even if you are a great chef, there is a considerable difference between running a restaurant in a controlled environment and a catering business where there are continuous changes to your operations owning to the changing venues and related dynamics. With every new catering assignment, the venue, menu and other parameters differ and ensuring a successful business will need operations to be managed seamlessly. A small miss in this could lead to a loss of reputation and business. 

Recently, an existing client referred a friend – a successful caterer based in Sydney. To cater to the upcoming busy season, the client sought a loan of about $100k to purchase new equipment, hire additional staff and invest in marketing. Having run a successful business over the years, the client was looking at scaling up her infrastructure to cater to the growing business. This is when he was referred to Capital Boost by a friend who had previously worked with us to secure a loan for his own business. 

The Challenge

With a business that was thriving, there were a lot of orders that were coming her way. However, the challenge was that she was short of capital to take on new orders owing to infrastructure and manpower constraints. With a need to address this issue, the client had previously reached out to an online lender directly and post assessment was told that she was eligible for only $30K, which wasn’t enough to cater to her business needs. 

The solution

During our interaction with the client, we realised she had an existing loan that was due for closure in a couple of months. This was one of the reasons why the client was not getting the required amount needed. Having evaluated the client’s business and growth prospects, and an understanding of her existing financial and business health, we worked closely with this client to build a business case and identified a lender whom we thought was the best match. Our understanding of lender criteria and the client requirements enabled us to identify a suitable loan for the business for the required amount. Today, our client has managed to significantly improve her business by investing in the right infrastructure and staff, besides taking on new assignments with adequate cash flow. 

Success High Point

We managed to secure a funding of $110K for our new client to grow her business! And at rates that were considerably cheaper than what was offered to her earlier. 

 

Do you have a similar story? We would love to help you secure the loan needed to grow your business. Reach out to us on 1300 360 530 or click on the link to Apply Now!

 

You are just one step away from securing the right loan to grow your business.

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