How Veracity's Tailored Approach Transformed a Challenging Finance Situation into a Swift and Successful Outcome

1) Asset-backed client faced challenges in securing finance for a 7-seater vehicle essential for their large family. Despite multiple attempts to secure a loan on his own, the client faced rejections without clear reasons from different financiers. Turning to Veracity for financial assistance, we conducted a thorough review of the client's existing liabilities. Our analysis revealed that by reducing the credit card limit, we can assist the client with one of our panel lenders who applies lower living expenses. 

The client accepted the offer, Veracity promptly submitted the application. To our delight, it was approved within just 20 minutes. With a diverse panel of over 40 lenders, each with their unique credit criteria, Veracity ensures a tailored approach. Our expert team carefully evaluates each application, guiding clients toward the most suitable lender to minimise inquiries on their credit file.

2) A client with two unpaid utility defaults and a three-month casual employment was unable to secure finance, given that most lenders typically require a minimum of six to twelve months of minimum casual employment. The dedicated Veracity team strategically submitted the application to a lender whose criteria aligned with the client's unique situation, accompanied by thorough notes and explanations. The application was approved within a remarkable 28 minutes, settled same day. 

Typically, the approval process for bad credit applications involves considerable effort and can take anywhere from 24 to 72 hours. However, by presenting all necessary information upfront, coupled with clear notes during submission, Veracity achieved an exceptionally swift turnaround.

3) A young applicant visited the dealership with the goal of purchasing his first vehicle—a 2003 Nissan Pulsar. Despite the vehicle's age posing challenges with traditional lenders, who were hesitant due to the asset not booking well on their systems. The client also sought exceptionally low payments over a lengthy 7-year term. Standard lenders typically cap the maximum vehicle age at 20 years by the end of the loan term.

In response, Veracity took a creative approach by initiating a personal loan application, using the vehicle as security. With a competitive interest rate of 12.99% over a 7-year period, the application was not only swiftly approved within an hour but also settled on the same day.


Transformative Financial Journey for Salon Business

The client, a dedicated salon business owner, approached us with a specific need for cash flow assistance to acquire essential cosmetic machines. Upon examining her bank statements and finance documents, it became evident that client must handle finances in a better way. Our committed team delved into a thorough review of the client's financial documents and identified areas where enhancements in banking management could be made.

We collaborated closely with the client, proposing some simple changes to optimise her financial situation. Over the course of three months, the client diligently implemented the recommended adjustments. Our ongoing support and guidance ensured a smooth transition towards improved financial practices.

With the enhanced financial profile and a strengthened approach to banking, we were able to secure a Cashflow Loan tailored to the salon’s unique requirements. This success not only provided the client with the necessary funds for acquiring cosmetic equipment but also marked a transformative journey towards better financial stability and management for her salon business.

From Startup to Fleet: Veracitys Success in Navigating Early Business Financing Challenges

With just a one-year-old Australian Business Number (ABN) and no lodged financials, the client approached Veracity for assistance with financing of vans and trucks required for his logistics company. Recognizing the unique challenge, our team worked and liased with our extensive network of lenders.

Through meticulous negotiations and a thorough understanding of the client's needs, we successfully facilitated the financing for multiple fleet vans and trucks. This achievement not only addressed the immediate requirement but also laid the foundation for the client's business expansion.

Our commitment extended beyond mere approval, as we secured a competitive interest rate and favourable finance terms, ensuring the client's financial obligations aligned seamlessly with their business objectives. This strategic approach not only demonstrated our proficiency but also emphasised Veracity's dedication to tailored financial solutions.

In navigating the challenges posed by the one-year-old ABN and the absence of lodged financials, Veracity's success in securing the financing stands as a testament to our expertise and commitment to empowering businesses, even in unconventional circumstances.

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