Example Funding Scenario – Round Baler Finance

• We received a phone call from a Famer in central NSW wishing to discuss the finance of a New Holland Round Baler.
• This particular farmer had been knocked back by their rural bank based on the fact that their financial statements from the previous year were not sufficient to service the loan.
• Purchase Price – $85,000 (gst Inc.)
• Time in farming – 10 years
• Equity in the farm – Yes
• Paying off other farm equipment – yes

Outcome – Round Baler Finance

• We emailed client application form to completed.
• We put this deal through under our lo doc policy as client could not provide financial statements that could service the loan – all we needed from the client was a copy of the rates notice relating to their property and a current tax portal showing that gst was paid and up-to-date.
• Finance approval was then granted one day later for the full $85,000 (gst inc).
• We requested an invoice from the dealer and the finance of the round baler went through two days later.
• Client was very happy with this outcome, based on the fact that their local lender had initially declined their application for Baler Finance.