Joseph has started a business in which he restores and sells vintage bicycles (bicycles that are more than 25 years old). he has lengthy experience working in auto-body repair and believes that this allows to him produce restored bicycles of the highest quality. Joseph worked in auto-body repair for over 30 years and has experience repairing, restoring, and, painting vintage cars. The quality of the paintwork required on cars far exceeds the quality of the paintwork required on bicycles. Joseph believes this auto-body repair experience equips him with the ability to produce an excellent product when restoring vintage bicycles. Joseph had to stop working on cars when he injured his ankle and couldn’t do much of the physical work required for restoring cars. Joseph is hoping to take advantage of a desire in Victoria for vintage bicycles and has been approved for loan of $2,730 to purchase the tools and supplies he will need to restore the bicycles.
Joseph has had challenges with alcohol addiction in the past and has been sober for more than a year. Two references who know Joseph well have helped him with his recovery say he is ‘definitely on the right path’ and is ‘extremely committed to recovery’. Joseph has ‘made some touch choices to stay in recovery and he hasn’t had any slips’. ‘If he goofs up he takes responsibility and tries to improve himself.’ He is also described as someone who is ‘astute’ and ‘takes direction and asks for advice’.
Joseph’s credit file indicates that he has had some challenges with his credit in the past and has a relatively small amount of outstanding debt. Joseph has also shown a commitment to repairing his credit and paying off his existing debt.
Joseph is clearly talented and takes considerable pride in the work that he does. As he says, ‘it’s a passion for me. They’re vintage, but they’re more than that. They’re really works of art.’ This loan will provide Joseph the opportunity to turn that passion into a business.