Loan for alcohol distribution company using a guarantor with no income
At Tembusu Financial Services, we take pride in being there for our clients when they need us the most. Take the case of a family-run alcohol distribution business that has been a cornerstone in the industry for years. Founded by the venerable Mr. Lim and now led by his daughter, the company faced unprecedented challenges in recent times. The rise of online e-commerce direct selling, coupled with the crippling effects of the COVID-19 pandemic, had taken a toll on their operations, pushing them to the brink.
When they turned to banks for a working capital loan, they hit a roadblock. The sole shareholder, elder Mr. Tan, who had no active income as he wasn’t an executive in the company, faced rejection after rejection due to the stringent income and credit history requirements set by most banks.
This is where Tembusu Financial Services stepped in. We understood the dire situation the company was in and recognized the importance of keeping this family business afloat. Leveraging our expertise and experience in financing, we were able to devise a solution that worked for them. We offered a loan secured by Mr. Tan’s property as collateral, bypassing the income-related hurdles. Our commitment to their best interests, coupled with our innovative approach to financing, allowed them to receive the much-needed funding without the hassle of traditional bank procedures.