Verified and reviewed by Corey Marino Founder & Finance Broker, FBAA member M-354085 · Diploma-qualified finance broker
Last reviewed 18 August 2026 · About Corey →
The challenge
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.
The approach
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 application was approved on the first lender enquiry, avoiding unnecessary applications to multiple credit providers.
The result
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.
Documents used
Evidence supplied
- Full financial statements
- Tax returns
- Commercial property valuation
- Existing loan statements