Licensed Credit Provider Specialising in Small to Medium Sized LoansListing: #GC00214
About this Business for sale in Gold Coast RegionLicensed Credit Provider Specialising in Small to Medium Sized Loans
This is a highly scalable business has multiple physical sites lending to thousands of customers. Additional sites operated by Agents are planned in the near future and are relatively inexpensive to establish. An online lending application and processing system has been built into an advanced website and is now contributing to loan origination.
The company has an Australian Credit License Number and is run under management with the current owners working 20-40 hours per month. Outside Head Office, each additional site is run by a nominated “Authorised Credit Representative” with all lending staff having the minimum qualifications of Cert IV in financial services, and compliance is managed by recognised internal and external Audits. There are two Head Office staff also nominated with ASIC as Responsible Managers under licensing obligations, who perform the internal auditing.
Loan sizes range from $300 to $50,000 and are funded in house and third party loans. High lending margins and low default rates are consistent and managed using comprehensive approval processes and systems. Other services include cheque cashing and business lending.
A buyer will need $1.2M to fund the business purchase which includes the in house loan book. Finance Qualifications and experience would be highly beneficial but not an essential requirement.
Asking Price $ 550,000 plus Loan Book
For further information please complete an online confidentiality agreement by clicking on the ENQUIRE NOW button.
For full details contact Troy Potter
+61 7 5572 2122
+61 412 286 176
*Profit: Sellers Discretionary Earnings, also known as EBPITD (Earnings Before Proprietors Compensation, Interest, Tax and Depreciation). This is the estimated total discretionary earnings (profit) for a business, usually based on historical trading.