Background
Fire Cool is one of the leading Company based in Mysore, Karnataka, India, having a young team of trained experts in the field of Servicing of Fire Extinguishers, Fire Hydrant System and Fire Alarm System in Mysore. It has been doing this business for more than TWO Decades and attended a number of clients for Servicing of Fire Extinguishers, Fire Hydrant System and Fire Alarm System. The customer is the distributor for Tyco for Karnataka.
Challenges
- DIP in TO for FY 2018 by 33%
- The property offered is Let out Industrial Property. The lenders prefer self-occupied industrial property and let out only for Lease Rentals Discounting
- The proposal is debt consolidation which has become bad portfolio for bakers
Aagey Solutions
- Aagey has considered future growth of the business as evidenced by GST data
- Aagey insisted the lender to focus on positive financial parameters and growth of the business to take comfort on a property
- Aagey convinced that short term loans were taken to execute new orders which led to revenue growth and customer interested in Debt Consolidation due to saving 8% interest on 100L short term loans
Result
- Aagey suggested TATA Capital and ICICI Bank as probable lenders where the customer went with ICICI.
- The customer has been sanctioned 180Lfro ICICI for 120M at 10.45% ROI
Why Aagey?
- Aagey has convinced bankers to take a call on Debt consolidation proposal by explaining the logic and benefits to the customer
- Aagey is able to convince bankers on collateral acceptance
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