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Let your broker turn a ‘no’ into a ‘yes’

Sydney-based small business owner Charbel Azar had spent many years establishing and growing his content creative agency, Coloursock.


 

Sydney-based small business owner Charbel Azar had spent many years establishing and growing his content creative agency, Coloursock.

With a thriving list of clients seeking his company’s expertise and services, the time had come for Charbel to invest in purchasing new equipment.

He made an appointment to see the lender he had been banking with for several years.

However, they told him it was unlikely they would be able to finance his new camera purchase because he could not easily prove loan serviceability.

“As any small business owner knows, to grow a small business you have to use your profits, which means your business probably looks like it is going backwards during the growth phase,” Charbel said.

Charbel then decided to see a Mortgage Choice broker, but admits he was initially hesitant about his chance of success.

“Having been told by my current lender that the deal probably wasn’t possible, I didn’t think my mortgage broker was going to be able to help,” he said.

Fortunately, Charbel’s broker was able to help him finance the purchase of his camera by advocating on his behalf.

“She took the time to explain my financial situation to the bank and told them to look beyond my tax returns,” he said.

“While my latest annual tax return made it look like my business had taken a financial step backwards, the reality was vastly different. My business was growing and serviceability was never going to be an issue.

“My broker was relentless in her desire to help me achieve my financial goals. That is why I didn’t hesitate to go back to her to finance my car. I wouldn’t use anyone else. She is fantastic.”

By going to Mortgage Choice, Charbel was able to purchase a car and a very specialised piece of equipment for his business, thus helping him to take his company to the next level.

 


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