The landscaper with 11 months on the books

The situation

A sole trader landscaper, trading for just 11 months, had the chance to buy a landscaping and garden supplies business that had traded continuously for more than 30 years, at a price above $1m. On his own trading history the answer from the majors was no, and he came to us already declined.

What we did

Eleven months of sole trader accounts was never going to carry the file, so we built the case on what actually services the debt: the target's three decades of trading, a customer base in the tens of thousands, and a genuine succession story. The buyer stepping in as owner-operator replaced an external manager at a materially lower cost, and we evidenced that saving line by line rather than asserting it. His own trade experience and existing work were documented alongside a layered funding structure, with every covenant tested well above the minimums.

The outcome

The purchase was approved and fully funded, with debt service and interest cover each clearing their covenants with room to spare. A buyer eleven months into his first business bought one that had outlived most of its competitors.

Details anonymised and figures materially altered. Outcomes depend on individual circumstances and lender criteria.