OnDeck adept at supporting small business
Civil construction industry veteran Ryan Musgrove from Sydney-based Adept Contracting has big expansion plans for 2022 and is delighted that OnDeck is joining him on the ride.
Currently working as a contractor on projects such as WestConnex, a 33-kilometre underground motorway scheme, Ryan has plans to work directly with major developers and building companies. Adept is also supporting the construction of The Sydney Gateway, which will provide a high-capacity road connection from Sydney Airport and Port Botany to the new WestConnex St Peters Interchange.
“We provide construction services such as excavation, concreting and asphalting, and I’ve decided it’s time to go out on my own again,” said Ryan, who has been working as a contractor since 2017. Previously, Ryan was the principal of his own civil construction company.
“Most of our work involves excavation such as digging to put in new surfaces such as roads or preparation for new drainage or sewer lines. We could be contracting to plumbers, road builders, or anyone in civil construction, and for the past four years I have been working through another company.”
Back to the future for Ryan
However, moving into the new year, Ryan, with the financial support of OnDeck, plans to resurrect his civil construction business, and this involves investing in some new equipment. “I had been in the civil construction industry for years, and I got rid of all my gear.
“It’s a busy time in Sydney with plenty of infrastructure construction work available. I’m working seven days a week and believe now is a good time to get back into my own company and buy some equipment. It’s no point waiting until I have no work to buy gear.”
In November 2021, Ryan acquired a second hand 6-tonne Isuzu tip truck with funding from OnDeck. He also plans to purchase a 3.5-4 tonne Komatsu excavator. “I have decided to buy the excavator and a truck, so I can go out on my own and getting the finance through OnDeck was very straightforward.
“I was sitting on my client’s excavator and making the application at the same time. The whole process went smoothly.”
Letterbox gold
A brand new OnDeck client, Ryan first heard about OnDeck when he discovered a marketing letter from the commercial lender when he opened his letterbox at home. “I rang the number and started the process.
“I had some of my own money for the truck and topped it up with some finance from OnDeck. I wanted to get the truck, which is a good one, and the lightning speed of OnDeck’s approval process enabled me to grab the vehicle while it was still available.”
OnDeck’s BDM team walked Ryan through the application and approval process. “I’ll be very happy to go with OnDeck again to get the excavator. By working with OnDeck, it’s allowed me to get cracking again.”
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