{"id":330,"date":"2022-06-23T05:54:10","date_gmt":"2022-06-23T05:54:10","guid":{"rendered":"https:\/\/aglend.com.au\/?p=330"},"modified":"2022-10-21T03:46:08","modified_gmt":"2022-10-21T03:46:08","slug":"struggling-trucker-couple-with-young-kids-finally-gets-loan-to-expand-cattle-business","status":"publish","type":"post","link":"https:\/\/aglend.com.au\/blog\/struggling-trucker-couple-with-young-kids-finally-gets-loan-to-expand-cattle-business\/","title":{"rendered":"Struggling trucker couple with young kids finally gets loan to expand cattle business"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\"><strong>The challenge:<\/strong><\/h2>\n\n\n\n<p>A debt-ridden couple engaged in hauling services wants to diversify their livelihood but experiences difficulties acquiring loans from regular banks.<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>The outcome:<\/strong><\/h2>\n\n\n\n<p>The couple sought Aglend\u2019s help and was able to clean up their messy finances, purchase additional acreage, and&nbsp;<a target=\"_blank\" href=\"https:\/\/aglend.com.au\/lending-expertise\/livestock-finance\/\" rel=\"noreferrer noopener\">upgrade their cattle business<\/a>.<\/p>\n\n\n\n<p>Having a growing family and a livelihood that most banks deem too risky to cover can cast a dark cloud over your dreams.<\/p>\n\n\n\n<p>That\u2019s the gloomy emotion a trucker couple in southeast Queensland has always felt while pondering:<\/p>\n\n\n\n<ul><li>Their mounting debts<\/li><li>The generally rabid competition in the trucking business and&nbsp;<\/li><li>The poor credit scores their application will likely earn at any traditional bank they\u2019ll dare go to for help.<\/li><\/ul>\n\n\n\n<p>Those are lousy cards, any way you look at it.<\/p>\n\n\n\n<p>As trucker operator-owners, the couple faces stiff competition from other small, family-owned hauling service providers in the area. Still, the biggest challenge in their sector generally comes from big transport companies that operate fleets of trucks, which can charge lower fees given the economies of scale.<\/p>\n\n\n\n<p>The couple also engages in cattle trading to make ends meet for their growing family (already a tremendous challenge in itself).&nbsp;<\/p>\n\n\n\n<p>But their limited acreage forces them to graze their livestock elsewhere, requiring extra effort and additional fees (agistment).<\/p>\n\n\n\n<p>To keep themselves from plunging into dire straits, the couple planned to consolidate their debts (including interest-incurring draws from credit cards).<\/p>\n\n\n\n<p>They purchased an adjacent property to allow them to operate a fully integrated cattle business and generate better profit margins.<\/p>\n\n\n\n<p>However, trucker owners rarely get sterling&nbsp;<a target=\"_blank\" href=\"https:\/\/aglend.com.au\/lending-expertise\/private-farm-loan\/\" rel=\"noreferrer noopener\">credit scores at conventional lending<\/a>&nbsp;institutions. Plus, a growing number of dependents doesn\u2019t make things any easier.<\/p>\n\n\n\n<p>Good thing the couple discovered a hidden ace yet in their sleeves:&nbsp;<strong><em>Aglend Finance<\/em><\/strong>.<\/p>\n\n\n\n<p>Desperate, the Queensland couple approached one of our veteran finance brokers. We agreed with the couple\u2019s assessment: they were in such a big mess.<\/p>\n\n\n\n<p>So Aglend reviewed the couple\u2019s cash flow and probed its network of fund sources to start building some emergency funds. Through Aglend, the couple was able to apply for and secure a bridge financing solution that enabled the family to purchase the property under terms that maximise sale potential.<\/p>\n\n\n\n<p>The couple achieved a far better financial position after debt consolidation and acquiring new property. It operated a more profitable and fully integrated cattle trading business.&nbsp;<\/p>\n\n\n\n<p>They are now steadily paying off their debts and making asset-enhancing improvements on the new property.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A debt-ridden couple engaged in hauling services wants to diversify their livelihood but experiences difficulties in acquiring loans from regular banks.<\/p>\n","protected":false},"author":1,"featured_media":289,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[74],"tags":[],"post_folder":[19],"_links":{"self":[{"href":"https:\/\/aglend.com.au\/wp-json\/wp\/v2\/posts\/330"}],"collection":[{"href":"https:\/\/aglend.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/aglend.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/aglend.com.au\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/aglend.com.au\/wp-json\/wp\/v2\/comments?post=330"}],"version-history":[{"count":2,"href":"https:\/\/aglend.com.au\/wp-json\/wp\/v2\/posts\/330\/revisions"}],"predecessor-version":[{"id":3055,"href":"https:\/\/aglend.com.au\/wp-json\/wp\/v2\/posts\/330\/revisions\/3055"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/aglend.com.au\/wp-json\/wp\/v2\/media\/289"}],"wp:attachment":[{"href":"https:\/\/aglend.com.au\/wp-json\/wp\/v2\/media?parent=330"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/aglend.com.au\/wp-json\/wp\/v2\/categories?post=330"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/aglend.com.au\/wp-json\/wp\/v2\/tags?post=330"},{"taxonomy":"post_folder","embeddable":true,"href":"https:\/\/aglend.com.au\/wp-json\/wp\/v2\/post_folder?post=330"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}