Finance Approval – Used Kenworth Prime Mover

A new customer came to us with an urgent requirement: they needed to replace a Prime Mover in their fleet that had been destroyed in a fire. Time was critical, as the client relied on their Truck to fulfill ongoing contracts and maintain their reputation with business partners.

The challenge was significant. The client had been operating as an Owner Driver for only six months, which made it difficult to qualify under our standard Low Doc Finance policies. With limited historical financial records and uncertain future income projections, traditional Lending options were effectively out of reach.

To provide a solution, we took a flexible and practical approach. We based the Finance approval on six months of business bank statements supplied by the client, giving us a clear picture of cash flow and business activity. Using this approach, we were able to approve the full Finance amount of $181,000. To further secure the facility, we also obtained collateral security over an unencumbered Motor Vehicle owned by the client.

The result was a swift and practical outcome. The client was able to acquire the replacement Prime Mover quickly, ensuring their operations could continue without interruption and their contracts with partners were honoured.

This case highlights the strength of our flexible credit framework and our ability to provide tailored Finance solutions for Transport Operators with unique circumstances. By thinking creatively and applying a pragmatic approach to Lending, we were able to support a new business in a critical moment – helping them get back on the road quickly and confidently.

KEY POINTS:

Approval Given With Limited Trading History

Client Required Urgent Outcome To Maintain Work Contract

Reduced Maintenance Costs With The Newer Rebuilt Prime Mover

Flexible Policy Framework Ensured Successful Outcome