Client: John and his four work colleagues
Requirements of the client: John and his fellow work colleagues have been offered to purchase the business they are currently working in.
Why Multi Choice Home Loans: John currently has a home loan through Multi Choice and contacted them for a business loan.
Client’s details: John and his colleagues have worked for a number of years in the business. They have gained a lot of experience and knowledge to be able to consider purchasing the business. Collectively they have good equity and security to fund the purchase.
Business loan option: John and his colleagues discussed with Multi Choice what they require from a business loan. Their mortgage broker made an enquiry with the possible lenders regarding their scenario. John has a few different options to select from for their business loan all with slightly different features.
The outcome: John and his work colleagues went with Multi Choice’s recommendations for a suitable lender and business loan. The recommendation best suited their requirements. They now own the business they are working in.
If you feel like you are in a similar situation seeking home loan advice, please do not hesitate to contact the team at Multi Choice 07 4194 2955 or 0438 724 113.
* The client’s name has been changed to a generic name, John & Jane, in every case study.
DISCLAIMER: this case study is intended to provide general information only. Parts of this have been changed to protect client confidentiality. Readers should rely on their own enquiries before making a decisions regarding their own situation. Please do not rely on any part of this case study as a substitute for specific legal or financial advice.