Where can I source an investor/lender that will loan money against turnover rather than equity.$500,

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I run a small business in the transport industry turning over approx $50k per mnth. Have built my business up from 1 x 10 year old truck to currently 2 x brand new trucks with trailers since Nov 2004. Have secured a 5 year agreement for work for both new trucks with an internationally owned company and am looking to consolidate business debt accrued in my short but fruitful progress thus far. Have not got a property in Sydney and am willing to buy a home rather than rent for my young family so as to gain equity for myself rather than not having any leverage for finance as in my current situation

Where can I source an investor/lender that will loan money against turnover rather than equity.$500,000 sort?

I'm not exactly sure what you mean against turnover. If you have an investor you also will have either less owner equity or more debt. Either way I don't believe you are going to see the result your seeking and it wont make your financials look any better. I would encourage you to bite the bullet for 18 to 24 months while you pay down on your new trucks and alsao on your other accumulated debt and build up a savings with enough cash to cover the absolute worst case scenario for at least 30 days. Mean while I believe it is imperative to have a banking relationship with a small bank that you will be getting more and more confident as you continue. They will probably be willing to give you a open line of credit and possibly large enough to pay down debt. Stll, I strongly urge you to resist that urge to relax and enjoy your success just yet. If you do you will falling victim to the same difficulty more the 79% of all young business ace in there first 5 years. Good Luck and congrats on your success.


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