This really looks like a good company, based on their business...

This really looks like a good company, based on their business model.

Here's the advantages of what I spotted compared to their competitor (silverchef):


Economic Moat:
-if non-paying = they can take the equipment back and auction
-smaller loans always means higher interests (definitely higher than banks)
-leasing of equipment eg: trucks, machines, etc (refer to ORIX & PACLEASE)
-Australia has good governance - customers have less risks for defaults.
-australians and businesses don't like to buy, they prefer lease and rent.

Growth Driver:
-fintech - fast approval process = competitive advantage
-scalability due to tech-use: 3250 customers serviced by only 30 employees.
-small market cap, potential for rapid growth, if continuously show growth in profits
-can take into consideration of rental equipment biz?
-OZ company in stable AUD currency = effective hedge
-focus on growing their distribution channel (referrals of retail merchants)
-submissions of new loans are done by referrals (pay them to get customers & submit data),
all AXSESS needs to do is approve (which is done by computer).