David and Michael, Mechanic business
David and Michael’s motor mechanic business had grown significantly over the last three years, and their financial advisor had suggested that they put structures in place to grow and protect their personal wealth. David and Michael had ongoing concerns that their current lender lacked the technical expertise and support to fulfill their requirements, so their financial planner introduced them to Orium Finance.
How we helped
An initial strategy meeting was held with David and Michael, their financial planner and their accountant. It was revealed that while obtaining a good interest rate was important, David and Michael’s primary objective was to source a lender with a strong understanding of SMSF legislation to help them achieve their long-term wealth creation objectives. Orium conducted a review of the commercial lending environment to determine which lenders had a strong technical understanding of SMSF legislation, and positioned the client to several of the major banks and non-bank lenders. Orium successfully obtained multiple funding offers to shortlist for David and Michael’s consideration.
Orium was able to negotiate the most competitive package with a major bank, whose credit team were comfortable with the technical nature of the SMSF transaction and willing to provide the most flexible terms. Fast forward to now, Orium not only provides guidance on the existing funding structure, but also assists with the business’s long-term growth plans and the directors’ personal funding requirements.
- Client introduced to Orium by their financial planner
- Orium held a strategy meeting with the client and their advisors to understand business objectives, funding needs and financial position
- Orium conducted a review of the commercial lending environment and positioned the clients to lenders with a strong technical understanding of SMSF legislation
- Orium shortlisted and presented the most suitable funding options to the client
- Orium negotiated the most flexible package for the client
- Orium managed the application and settlement process, liaising with the client’s new lender, incumbent lender, solicitor, financial planner and accountant
- Orium is now a key part of the client’s advisory team, whilst also providing personal funding advice to the directors