WA Restaurant’s Path to expansion with Business Loan Support

Success Story: Restaurant business in Western Australia

Running a successful restaurant is a challenging endeavor, and expanding it requires careful planning and substantial resources. Recently, we had the opportunity to work with a partnership restaurant business based in Western Australia that had been thriving for four years. With their reputation growing and demand increasing, the partners decided it was time to expand their business. They sought a $100K loan to invest in expansion of their business, new equipment and hire additional staff. Unfortunately, despite their impressive track record, they faced challenges in securing the necessary funds due to an existing ATO debt.

The Challenge

The restaurant had an ATO debt of $98K, which posed a significant barrier to obtaining full funding. Also, led to multiple rejections from lenders, as each lender was considering the ATO debt limit and only offered a fraction of the funding- Just $30K. The partners were determined to keep their momentum going but found themselves short on capital due to this constraint.

The Solution

In our discussions with the client, we learned of their commitment to manage their ATO debt with a payment plan of $4,700 per month. We recognized their dedication and saw potential in their growth strategy, so we conducted a thorough analysis of their financials. With a clear understanding of both the client’s needs and lender criteria, we were able to identify a lender willing to provide the full $100K as a secured business loan.

Success High Point

Our team successfully secured a $100K business loan for the client at favorable terms, enabling them to pursue their expansion plans. Today, the restaurant partners are actively growing their business, making strategic investments in equipment and staff to keep up with demand. With the right support, they’ve transformed a major challenge into an opportunity for growth.

 

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