Verified and reviewed by Corey Marino Founder & Finance Broker, FBAA member M-354085 · Diploma-qualified finance broker
Last reviewed 24 August 2026 · About Corey
What needed to be solved
The business owned its workshop with substantial equity, but the existing bank would not release funds for replacement hoists, repairs, upgrades and additional working capital after a difficult trading period.
Credit file
Excellent business and director credit, with recent banking conduct requiring explanation.
What X Lend did
X Lend arranged a commercial property refinance with a non-bank lender and released the required equity as part of the new facility.
The equity released from an owner-occupied commercial workshop submission was matched to non-bank commercial property lender and moved from application to settlement in 3 weeks.
Settled outcome
Approved on the first lender enquiry and settled at a historical rate of 8.65%. The existing loan was refinanced and $150,000 released for the workshop and cash buffer.
Historical outcome only. Rates and policy can change, and every application is assessed on its own circumstances.
Evidence supplied
- Full financial statements
- Tax returns
- Commercial property valuation
- Existing loan statements