FOCUSING ON THE OUTCOME, RATHER THAN CURRENT INCOME

A Manawatu farmer wanted to subdivide several lifestyle blocks off of his farm.  He already had a mortgage of $600,000 and based on the farm’s income his bank would not lend more to fund the subdivision, as property finance nz and abroad was not easy at this time. This is where a non banking rural finance nz company was needed.

When we were contacted, we could immediately see that the value of the lifestyle blocks alone would more than secure the funding he required, and that’s without taking into account the residual value of his main farm.

We provided funding of $1.1m to allow the subdivision to proceed.

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ALLOWING A PROMISING IDEA TO BECOME A PROVEN WINNER

Case Study - Allowing a promising idea to become a proven winner no bank finance

A farmer near Rotorua understood the value of large pumice deposits under his farm. However, he did not yet have a resource consent to quarry the pumice, the farm income was not very strong and the asset finance market nz was not in his favour. Following a request to help with funding, we met with the farmer and the council on several occasions before deciding to back the farmer’s plan and provide the farm finance.

A fully operational quarry is now up and running and the farmer has been able to refinance with traditional bank funding.

BUYING TIME TO SAVE A GOOD WINE

Around 2010, wine making across the globe hit the doldrums and our celebrated local wine industry was not immune. Many banks asked their New Zealand winery clients to repay their business loans nz and abroad, in full, even though they were not in default.

Following calls for help, we funded three separate wine makers who had reasonable equity but temporarily poor cash flow. This gave the owners valuable time to sell on their own terms or work towards better times and refinance with a different bank.

Today, the efforts of our talented wine makers continue to be rewarded and enjoyed, thanks to the help of our skilled non banking mortgage brokers nz friendly team .

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