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Making the IRD your friend again

​Lock Finance were introduced to a metal fabrication business who were still growing but constantly hitting the limit of their overdraft facility with their bank. As with many privately owned businesses the family home had been leveraged to the maximum in support of this growth previously. There were no further assets for the bank to lend against and GST and PAYE arrears meant there were credit restrictions on how far the bank could help their customer.

Recruiting Faster Cashflow

Lock Finance were introduced by a commercial banker to a labour hire company. The labour hire company was only a couple of years old but was growing well and was forecasting to double it’s revenue in the following year. The bank advised that they could no longer provide an increase in their client’s overdraft facility as the directors personal property had no more equity in it to allow the bank to increase their facilities.