![](https://cfifinance.co.nz/wp-content/uploads/2023/05/mobile-food-truck-financed-by-cfi-couple.webp)
Flexible finance to buyout a silent business partner.
Bryce and his wife had been running their takeaway restaurant successfully for 2 years. When the opportunity came to buy out their silent partner they weren't sure they were ready. CFI was there to help.
![](https://cfifinance.co.nz/wp-content/uploads/2023/05/mobile-food-truck-financed-by-cfi-couple.webp)
Bryce and his wife know how to run their business, having purchased it in 2021 in partnership with an investor, they'd increased turnover and built a loyal customer base.
Although they had some savings, much of their share of the profits had been reinvested in the business. With a Business Loan from CFI Finance they were able to buy out their silent partner and take full control of their growing enterprise.
Fast Facts
A Business Loan from CFI Finance helped this couple to:
- Buy out their silent partner
- Pay for the buyout from future profits
- Acheive this despite an outstanding ATO tax bill
The Scenario
Bryce and his wife bought their takeaway restaurant in early 2021, along with the help of a silent partner / investor. In late 2022 they had the opportunity to buy out their partner but they weren’t sure they could achieve it; the business had some existing finance for kitchen equipment and was also paying off a small ATO debt.
The Positives
- Bryce and his wife knew their business well and had shown they could run it successfully
- The business was profitable and could service a loan
- Bryce and his wife had good personal credit files and low levels of personal debt
The Challenges
- The business had some existing finance over most of the kitchen equipment so couldn’t offer it as security
- There was a small tax debt which was slowly but steadily being paid off
- Bruce and his wife didn’t own property and had limited savings
The Results
A Business Loan from CFI, secured over the unencumbered assets of the business, allowed Bryce and his wife to buy out their business partner and take 100% ownership of the business.
Loan payments were covered by a portion the future business profits, ensuring that cashflow was maintained.
Names in this case-study have been change to protect customer privacy – Learn more
Case Study Callouts
Not being property owners wasn't a barrier to obtaining finance for this husband and wife team
A small ATO tax debt (under arrangement) wasn't a big problem
It's OK to have other finance commitments, so long as we can see how the business will manage its commitments
Want to learn more about CFI Business Loans?