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18 months later…

Jack has decided to expand his business by purchasing the restaurant next door, which recently went on sale for $450,000. In order to secure the restaurant, Jack has decided to apply for a new loan. This will provide him with the funds to purchase the business, as he would like to keep his Overdraft for cash-flow purposes only. He is looking for a loan that is simple, has straight-forward pricing and a simple repayment process.

Based on your understanding of Jack’s needs, which product would you recommend?

If you need a hint click on each icon. Then select the most appropriate option and click ‘Submit’.

farmer

Product

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Consider a simple term debt option that offers the client a medium to long-term funding solution. This will allow the business to preserve its cash flow by allowing Jack to repay his loans gradually over a period of time that is agreed by the client and the bank.

Click 'X' to return to the main screen.
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Pricing

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For a simple term debt solution, a simple client price is required. Consider a product that offers the client a simple and easy to understand rate that has a similar structure to a home loan rate. This rate will cover a risk adjusted return, capital charges and operating cost for the bank.

Click 'X' to return to the main screen.
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Process

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Given the client requires a new product, a full CCL application must be completed in this scenario.

Click 'X' to return to the main screen.
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