Latest Banjo Case Study

When a rapidly growing swimwear business needed quick working capital in order to expand internationally, Banjo was here to help.

Industry
E-Commerce - Swimwear

Loan Amount
$700,000

Time in Business
5 years

Structure
Company

Annual Turnover
$12m

Total Deal Time
10 days

Background:

  • Business was founded in 2017 as a family business with a passion for driving body positivity and inclusiveness within the swimwear industry.
  • Growing from a small local business to now having dedicated design, marketing and warehouse teams.
  • Banjo previously helped this business grow with a $500K working capital loan in 2022

How did Banjo help this business move forward?

  • Banjo took the time to understand the business and its key financial information, including a financial forecast outlining its forward orders.
  • A video call was arranged with the Director and their accountant to understand the business further as well as the client's future objectives.
  • Banjo established the need for working capital to the amount of $700K in order for them to move to a bigger warehouse and purchase more inventory, which allowed them to expand their business into the US market and execute their growing business strategy.

If you want to learn more about Banjo or have any other questions, please reach out to your BDM.

New Rate Board

Please find attached Adelaide Bank's new SmartSuite Commercial rate board, effective as of 24 February 2023.

If you have any questions, please contact your BDM or State Manager.

New Broker Portal - 'Your Loans'

CommBank launched Your Loans last month, a new self-service tool in CommBroker, designed to give their broker partners greater visibility over their portfolios. The new tool, which was built following broker feedback, is designed to provide Brokers with access to their customer's key post-settlement information all in one place. This includes the ability to check things like a customer's product details, interest rates, repayment amounts and remaining loan terms.

Importantly, this new tool will also help ensure customers are making the most of the features of their CommBank home loan. For example, from Your Loans, a broker can check that a customer's offset accounts have been linked correctly, potentially helping their customers save on interest. Your Loans also allow brokers to check their customer's repayments are accurate and the repayment frequency is correct.

In a rising rate environment and as customers near the end of their fixed rate term, Your Loans will also help brokers have conversations with their customers about the next steps in their home loan journey. Your Loans provides brokers with details about their customer's fixed rate loan expiry date. It will also show any available discounts offered by CommBank after the fixed-rate loan matures, arming brokers with the information they need to have informed discussions with their customers.

Throughout the year, they will be adding additional features as they continue to invest even more into optimising their Broker technology.

Watch the video Your Loans Portal on Vimeo