05.12.2018

Asset Finance Solution

We were introduced to Max Stuart at Finance New Zealand at a time of high stress. Being an agricultural contracting business, we’re regularly faced with a seasonal workload. The arrangement we had with our bank had funding spread across three different lenders, with some assets funded over short time frames. Having too many short-term loans in a seasonal business meant that when cash flow tightened in the off-season, we required short-term cash injections to meet obligations.

We contacted our bank to discuss our situation and were told that we should consider selling up, which is obviously not what you want to hear after 40 years in business. Max went through our accounts and business structure, and returned with a solution that took away a lot of stress and provided the business with additional cash flow. This included consolidating our entities to come up with a solution that extended the terms of our property loans, as well as introducing a revolving credit facility that supports the seasonal fluctuations of our business.

We felt that the process when dealing with Max was much easier than dealing directly with our bank. Whenever we have gone into the bank we have been on the back foot – we felt that they didn’t understand our business. Max looked at our situation from a business point of view to find a solution, even though he had access to the same figures as the bank.

I’m pretty hard to please and don’t give praise every often, but Max was professional, he met all the deadlines that he said he was going to, I was able to get hold of him at any time and he was always on hand for advice. For us it’s a new way of doing things, and I wouldn’t hesitate to recommend Max and Finance New Zealand to others looking for business finance solutions.

– Lance Caddy, Caddy Ag