Business Acquisitions made easy with CFI
Michael is an engineer, with experience in installing and maintaining a wide variety of equipment types. When the opportunity to purchase this established and profitable heating business arose due to the owner relocating, Michael knew that it was the perfect opportunity to leverage his experience and become his own boss.
With the help of his finance broker and CFI, Michael was able to pull together a purchase offer for this established and profitable business.
It's never just one thing...
Almost every deal is the final result of a complex range of inputs, from servicing to security, from the experience and history of the applicant to the agreements with other parties such as landlords, vendors, and more. It’s this ‘on balance’ approach to transactions that makes CFI different, with a deeper dive into those applications that our brokers truly believe make sense.
What's the vibe?
Michael and his partner did own their own home, but as a recent build and without significant owner equity, other lenders hadn’t really taken this into account. For CFI home ownership showed stability and tenacity on the part of the applicant. Seldom is it all about the equity sometimes it’s more about the vibe.
How much can CFI lend?
This is a question we were asked and it’s one hear often. We get it, it would make life easier if we could always give a straight answer. The basic answer is that it depends on what the borrower can service (taking into account expected business income), but of course there are other factors at play such as tangible security and industry appetite. In short though we’re looking for applicants that show us (with their broker’s help) how much they need and that they can service the debt.
Get your workshop on.
Business acquisitions can be complex transactions, but can reward you with long term customers that will sing your praises to anyone that will listen. The first step on the journey is workshopping the deal with one of our finance specialists. You can also use our “Buying a Business” playbook in the broker portal to help tease out the answers to important questions early and set yourself up for success!
Win more business and delight your customers with CFI Finance.
If you’re not yet accredited with CFI, click here to get started or call one of business development managers on 0800 456 687 for more information.
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