SKOL, ADENCO and Judo Bank boldly support WA business

Returning to its pre-pandemic path, the economic trajectory of Western Australia (WA) is leading the nation as the state’s small and medium enterprises (SMEs) seek investment and growth.

However, despite their optimism, many SMEs in WA still do not have access to the funding they need to grow, stifling the full potential of SMEs and their role in Australia’s economic recovery.

Judo Bank’s SME Banking Insights report, released in September 2021, found that a quarter of SMEs do not have access to new funding. In fact, the report shows Western Australia has the lowest loan application success rate of all Australian states, but the most optimistic about future borrowing intentions, with almost two-thirds of businesses seeking new loans or refinancing.

Judo Bank’s clients, SKØL and ADENCO, are two businesses caught in this cycle – unable to get the funds they need and the services they deserve.

SKØL Bar, Scarborough

In 2019, entrepreneurs Mani and Ben approached the owners of local cafe Drift Kitchen, looking to turn some of the underutilized space on the venue into a bar. The owners saw the potential of the idea and Mani and Ben got 25% of the overall business and they created SKØL.

SKØL Bar is a hidden Scandi area on the edge of Scarborough. This is a local neighbourhood bar and eatery with a laid-back atmosphere, a unique Nordic-inspired menu and a strong social media following.

Twenty months after the launch of SKØL, the owners of Drift Kitchen wanted to exit and give the remaining 75% of the business to Mani and Ben.

Then came COVID. Like many other hospitality venues across the country, SKØL has been severely affected by the pandemic lockdown.

Owners Mani and Ben sought financing for the remaining 75% of the business, but could not find the right bank to support their vision.

That’s when Marnie and Ben found Judo Bank.

Through our unique, relationship-led approach, Judo’s relationship bankers take the time to understand where Mani and Ben stand and evaluate the performance and history of the business and its position in the marketplace. In a short period of time, Judo recognized the value of the SKØL and Drift Kitchen brands and was able to finance Mani and Ben with the remaining 75% of the business.

Mani and Ben are now in full control of the business and are now looking to expand and grow due to its continued success.


ADENCO is a dynamic and growing company in Western Australia’s water management and civil engineering industries, providing dewatering services, pipelines and infrastructure construction for critical assets of Western Australian mining companies across a wide range of commodities.

Against the backdrop of a boom in mining activity, ADENCO grew strongly, doubling its turnover in 12 months. This puts pressure on their cash flow. They approached the original bank for advice and solutions to the company’s growing cash flow needs. However, “the computer said no,” ADENCO was not successful and could not get the support it needed to fund business growth.

Then they had a conversation with Judo Bank.

Our bankers immediately recognized the opportunity for ADENCO and partnered with the company to provide it with the capital and support it needed to continue to grow its business and build assets on its balance sheet.

Judo Bank applies a professional, people-centred perspective to understand ADENCO’s business, its needs and cash flow, quickly providing tailored solutions to fit the cash flow profile of the business’s forward order book to help ensure ADENCO achieves its future goals.

Judo Bank boldly backs WA businesses

Our aim is to be Australia’s most trusted SME business bank. Judo Bank’s relationship-led banker brings back relationship banking, transforming banking for SMEs in Australia.

Built from the ground up by experienced and highly qualified commercial banking professionals, Judo Bank is a true choice for SMEs looking for access to the funding and services they need.

WA Grant Erskine, managing director of Judo Bank, said: “Our bankers are empowered to make judgment-based lending decisions using our ‘four C’ lending framework, which prioritises character and cash flow over capital and collateral, Rather than adopting a ‘one-size-fits-all’ standardized approach to lending.”

“Our strong growth since inception, including accelerated growth, has meant that we are reaching an increasing number of SMEs across the country, giving them the funding they need at the level of service they deserve, when they need it most. ,” Grant said.

If you would like more information about Judo Bank, our products and services and how we can support you, please visit our website or contact 13 JUDO (13 58 36), one of our WA A Judo relationship banker will be in touch with you.

© Judo Bank Pty Ltd ABN 11 615 995 581 AFSL and Australian Letter of Credit 501091 (judo). The information in this article (information) does not constitute personal, legal, investment, tax, accounting or financial product advice, is for general information purposes only, and has been prepared without consideration of your objectives, financial situation, tax situation or needs. It is subject to the Judo Disclaimer at

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