This success story recipient got funding because they took the first step and contacted a government agency to learn about their funding options. Although we cannot guarantee you will get funding, the more you know about others experiences the better your chances.

Indoor Golf Centre Swings Away using $19,000 Business Loan

Project:
Operating capital, equipment purchases
Industry:
Arts & Entertainment
City:
Hobart, Tasmania

Funding provides new equipment required to increase revenue

Andrew Jenkins of Hobart, Tasmania has worked in many industries throughout his time in the workforce, including in IT, recruitment, telecommunications, and financial services, earning a Tasmanian Chamber of Commerce and Industry Award for Corporate Manager in 2012. Still, it is difficult for even a successful career to compete with being able to make money from what one loves doing.

"Iíve always played and loved golf and saw an opportunity to bring the sport to the CBD market in an indoor format," Andrew said of the passion he transformed into a small business using his driver, preparation, and some helpful business financing. "Over the past year or so I developed a business plan, and seeking funding for equipment and working capital was a part of that plan."

"I always thought that indoor golf was a great idea and once I started researching properly that was evidenced by the types of existing facilities, especially in South East Asia and the US," he goes on to say of the impetus behind opening City Golf Practice (Hobart) in March of 2013 as the owner and manager. "From there I developed a detailed set up cost budget and cash forecasts," he explains, pointing out he still needed to secure an appropriate location.

Financial aid helps take the pressure off

Although additional funds were not necessary for City Golf Practice to open its doors, Andrew realized how much strain there would have been if he did not obtain additional capital from somewhere. As he put it, "Without the funding I would be running too lean in terms of working capital and this would place excessive pressure on the business -- and me!" This need for additional support lead him to the Australia Business Financing Centre, whose information resources enabled him to contact the business lending source he'd been looking for.

"I would not have been aware of the funding type had I not located it in the ABFC database," Andrew had to say of his experience with the Centre. "The ABFC have been extremely helpful throughout, from signing up to the database to 'after-sales' queries. Hard to say what would happen if I didnít find the funding via ABFC, but I can say this option has worked out and no doubt saved me research time." Now, thanks to the information he was able to locate, Andrew is the happy recipient of a $19,000 loan for business.

Andrew also seems happy with the entire application process, describing it as "rigorous but reasonable." In order to obtain the funding, he completed a "standard application process" whereby he was required to prove he had a sustainable business concept, was a "person of good character" without any outstanding debts, while being able to provide financial and a business plan to illustrate he would be able to adhere to the repayment schedule. Thanks to the provided business loan, Andrew's business has been growing weekly by using the funds as working capital to get the equipment his success required.

The whole concept of an indoor golfing centre is still new to Tasmania, making City Golf Practice (Hobart) the first of its kind in the area, so Andrew remains very excited about the company's future prospects.

www.citygolfpractice.com.au

Would you like to get funding to develop your business idea? There's money available now for qualified existing and start-up businesses. Phone toll-free 1800 316 825.

ABFC has no affiliation with any program, and no claim is made that funding is guaranteed.
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Find what funding programs you qualify for

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1
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2
Business ambitions
3
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4
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5
Revenue generated in the last year
6
Type of industry
7
Financing needs

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