As owners of Fortitude Finance and former bankers, Collins Hume clients Graeme Digby and Liam Hogan know what it means to build a quality offering and enduring client relationships.
The finance broking business is out to help business owners and individuals to make the right lending decisions in a world where myriad loans are on offer and can be confusing.
Transitioning from bankers to finance brokers has been a well-considered process, which is why they leaned on Collins Hume to help support the move.
"I was running the Bank of Queensland in Byron Bay and subsequently sold it," says Graeme. "Having spent considerable years in institutional banking I could see how we could offer better lending solutions which gave us the freedom to solve problems and make a real impact."
Collins Hume's advice was invaluable when selling Graeme's banking business and embarking on a new one. Directors Graeme and Liam took the plunge and opened the doors to Fortitude Finance in February after a period of meticulously planning.
"Collins Hume were my accountants at BOQ for tax and business advice," says Graeme. "When it came to the new business, both we and they put a lot of thought into the strategy around financing opportunities for low interest rates and the best structure to reduce interest costs to help people with opportunities to create extra wealth."
"It was an easy choice to stay with Collins Hume – we made no other consideration about using any other firm of accountants to set up the new business given our positive experience with them all along."
"When we set up the new business we knew the importance of strategic planning in the early stages so had Collins Hume conduct a workshop where we developed the business plan, cash flow forecasts and determined our key performance indicators."
Collins Hume's business planning workshop helped Graeme and Liam to understand their cash flow needs and mandated what they needed to do in order to achieve business success.
They haven't looked back. Operating their own business has highlighted the interest in refinancing residential and commercial loans to assist people to secure better finance or financing within super to purchase property.
"It's a good time to review financing arrangements," says Graeme. "No one has a crystal ball but fixed interest rates are their lowest ever so now is good time to fix a rate given that they will only go up."
"We're also doing our bit in the turnaround finance space for businesses in difficulty –providing finance against assets to get businesses back on track by refinancing equipment for example. There's a niche for that type of lending and, being business bankers, we understand business and lean towards finance scenarios that require a business eye."
With access to over 800 different loan products, Fortitude Finance stays up to date with the constant changes and new products. They go in to bat for commercial or private clients to match them with the right lending solution, plus negotiate competitive rates on their behalf.
"We have a great initiative called Equipment Xpress which gives pre-approval to business owners for equipment finance in two days. It works well for financing anything from motor vehicles to farm and earth moving equipment and is a stand-out offering in our market."
Fortitude Finance, as a new business, is moving apace. Collins Hume's advice was instrumental in getting the new business off the ground.
"I have been dealing with Peter Fowler and Collins Hume for a number of years. We find them to be fast and efficient in their turnaround of work and their dealings timely. Why we stay with Collins Hume is because the work is done right, their manner is friendly and the general feedback is always happy, which is important."
If you are thinking about your current financing arrangements or would just like a second opinion, click here to download a copy of Fortitude Finance's Business Snaphot for more information, or visit www.fortitudefinance.com.
Want more business help? Collins Hume Accountants and Business Advisers 02 6686 3000
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