Ann engaged her local Asset Finance Specialist who met with the client and proposed a finance facility that would pay the supplier in instalments and then commence an equipment loan when the production line was fully installed.
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The manufacturing machinery supplier was able to be paid progressively and Mr. Weinberg’s Bakery could get into pie production with ease and confidence. On completion of the build, the Asset Finance Centre converted the progressive funding from interest only payments into a standard Equipment Loan over a 60 month period. Mr. Weinberg was able to fulfil his contract and pay his supplier on time.
Mr. Weinberg was also delighted to learn about the option of a pre-approved Master Agreement, allowing his future leasing and financing requirements to be housed under one facility. The facility is able to speed up the process should he require additional equipment or vehicles as his business expands.
The Asset Finance Centre completed the process with the customer and Mr Weinberg was up and running in no time – with his pie production line installed and the orders flowing in. As a result of Mr Weinberg’s positive experience with Asset Finance, Mr Weinberg enquired with Ann regarding other banking products.