Judy is self-employed and looking to downsize

Judy has been the proud owner of a bike store and repair shop in Streetsville for 12 years, stating $60K in income annually. Her eldest daughter is moving out of the house, so Judy and her husband have decided to downsize to a quieter street on the other side of town with better access to bike trails.

After discussing the situation with Judy, her broker found she has good repayment history and strong net worth via liquid assets that she and her husband have accumulated together. Since COVID-19 hit, she was able to adapt her business to allow curbside pickup of new bikes. Being tech-savvy and able to maintain her own website, Judy made this change to her business model with little investment. The shop was also able to offer bike repairs outside while adhering to social distancing rules. They have been booked solid with appointments as more people have been favouring biking over public transit since COVID-19 began. 

Home Trust offered Judy a one-charge solution, a Classic Mortgage and an Equityline® Visa. Judy used the Equityline Visa to invest in her business with minor renovations to the shop. She looks forward to helping more clients discover their love of cycling.

Are you a Home Trust broker? Submit a deal or talk to your Business Development Manager to learn more.