How a seafood restaurant revived business with bad credit business loans
Josh has his seafood restaurant at one of the most happening places on the Gold Coast. Although it was a new shop, the variety in food and the ambience gathered a lot of tourists keeping the restaurant busy. Josh was happy as his business was flourishing; however, he wanted growth too early and too fast. He started spending on business development from the money he was making because he was sure it would eventually help his business grow further. He got kitchen equipment on finance lease. Little did he realize that it was impacting the credit score of his business, and then came the pandemic! For almost one and a half years his business suffered tremendously with major liquidity crisis due to which there were irregularities in finance repayments and his credit score went for a toss. By the time things started swinging back to normal in 2021; Josh’s restaurant was in a deep pickle. It needed an immediate cash boost for a complete revival. Josh went to the bank and multiple lenders to get a loan. But, he only got his loan application rejected due to the overall economic instability and his poor credit score. That’s when he reached out to Broc Finance for a solution, and we gave them one; bad credit business loans.