Assets worth over $150K approved despite credit issues

Diego Ortega

Tuesday, 01 December 2020

Credit not up to scratch? Whether you’ve had a bad run in getting approved for finance or COVID-19 has left things looking worse than they are, we can help you get to ‘yes’ by leveraging the relationships we’ve built with 80+ lenders.

Here’s an example of a customer who, despite having a credit score of 200, was able to secure $150K worth of assets through Valiant.

He reached out to us to enquire about four assets he needed urgently for his earthmoving and transport business. Unfortunately, with a credit score of 200, he was struggling to find a lender who would take him on (let alone in a reasonable timeframe).

Our lending expert, Diego, embraced the challenge.

“Lenders can be quick to judge a client based on their credit history, but a low score doesn’t have to be the end of the road. After taking a deeper look into this client’s scenario, I could find a way to support him and strengthen his case for finance.”

Firstly, Diego explained that Valiant carries out a soft check, meaning that we can see whether you qualify for finance before proceeding with an application. This way, you don’t have to worry about damaging your credit score by making a new enquiry.

Then he worked with our client to better understand what had happened to his credit score, finding that it had dwindled not because the business had suffered in any way (in fact, it was in good shape) but simply because he had made excessive finance enquiries—around eight or nine in total.

Due to winning a railway contract in Victoria, the client was working to a strict deadline and needed his equipment swiftly. Diego wrote to Group & General Finance, explaining in detail why he believed the client would make a reliable borrower and stressing the urgency of the case.

The assets required totalled $380K which unfortunately could not be serviced, but Diego was able to secure the two most important assets our client was after, totalling $150K, with everything settled in under a week. This would allow our client to complete his project in time (without having to hire external teams or resources).

Given the deadlines around his contract, our client was super relieved with such a fast turnaround and really grateful not only for Diego’s impeccable service, but the streamlined application process Valiant was able to offer.

Poor credit doesn’t have to be the end of the road. By leveraging our partnerships with 80+ lenders, we can help you get approved.

Get asset finance rates in two minutes via our free online loan finder.

Diego is a Senior Lending Expert here at Valiant, specialising in asset finance. He loves helping Aussie business owners fund the tools they need to do their best work.

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