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Success Stories
The following stories present some examples of recent successful transactions by Combined Finance Holdings. Of course we do not limit our scope to the sample stories listed below. Contact us with your requirements, and we'll use our fresh and innovative approach to assist you with your particular case.
Bridging Finance
Our client was awaiting the registration of her property, which was delayed in the Deeds Office. She also needed to undergo an urgent medical procedure at that time. We were able to provide the client with much-needed bridging finance for the surgery. According to the client the process was easy, fast and efficient, and with the money being in her account timeously, she had one less thing to worry about before having the operation.
Our client applied for bridging finance when his property transfer did not register timeously, and coincided with his daughter's 21st birthday. Having discounted the commission to the estate agent, he was able to buy his daughter a car for her birthday as intended.
Our client, a pensioner, sold her property and needed the money in order to pay a deposit at an old age home. If she had to wait for the registration of the property transfer she probably would have lost her spot in the home. Timing was of the essence and we were able to assist the client with securing her spot.
Invoice Discounting
A manufacturer of marketing-related products used by large corporates was experiencing cash flow pressure due to the expanding credit terms demanded by his clients, while at the same time increasing order volumes. We entered into an invoice discounting arrangement whereby we purchase the manufacturer's receivables on an ongoing basis. We now make payment of 75% of each invoice, on the date of confirmation that goods (and other required documentation) have been received in good order by the corporate clients.
Innovative Finance
Our client had a contract with Eskom to procure and deliver diesel. The client did not have sufficient cash to fund shipments, so we provided trade finance by controlling the cash flow in the transaction. We paid the refinery and transporter directly, and received payment from Eskom in turn, from which the client's share could be paid.
Our client, a property speculator, required a bank guarantee in order to pay the sales price on a property. The property had been bought at a discount and had already been resold at a large profit, with simultaneous transfers scheduled. We gave the bank guarantee, against an undertaking (from the attorney handling the second transfer) that we would be repaid in capital and finance charges upon registration.
Instalment Sale Home Loans
We assisted a couple to purchase a home. The husband was self-employed and the wife was salaried. Due to the non-standard nature of the husband's career as a magician, the banks were not willing to consider mortgage finance. Sentinel Homes approved the transaction and the couple moved into their new home.
We assisted a salaried architect who could not get a mortgage loan. The client is a permanent resident permit-holding foreigner. While he had saved for a large deposit and has a good credit record, the banks declined the application. The client's credit record was built up under his passport number and so was invisible to the banks. Sentinel Homes approved the transaction and the client moved into his new home.
Our clients purchased the house they were living in at auction after the landlord had gone bankrupt. When they applied for a bond, they discovered an erroneous "handed over" notice on their credit record. This was clearly a mistake, but given the tight deadlines of an auction purchase there was not enough time to correct the mistake and obtain the bond before the deadline. If a home loan was not obtained in time, the clients would lose their deposit. Sentinel Homes approved the home loan and negotiated with the liquidators and auctioneers to rescue the purchase and save the client's deposit.
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