A large transport company was experiencing strong sales growth and had found the opportunity to secure even more business through a lucrative new contract to transport demountable houses.
However, fulfilling this contract required the purchasing of additional trucks and trailers. The sales growth meant working capital was tight, and they wouldn't be able to service this contract — at least, not without the help of business finance.
Earlypay approved a $750,000 multi-faceted finance solution for the business, including:
Debtor Finance facility — advancing 80% of the outstanding invoices face value — to fund against the current outstanding debtor ledger and provide the ongoing working capital support required.
Asset Finance for the purchase of additional trucks and trailers.
Our finance enabled the business to take hold of the opportunity to grow its turnover, while allowing them to invest in equipment, which saved thema substantial amount in equipment hire fees.
After multiple tours to Afghanistan, an Australian infantryman wanted to dedicate more time to his young family.
Before retiring from the Army, the soldier used his well-earnt savings to establish a plant hire company, providing wet hire haulage for civil construction projects in South East Queensland.
The new business started well, and the future looked promising. After only 4 months of trading, an unforeseen and expensive mechanical repair left the business short of cash.
The client applied for finance via our website. Within 48 hours the retired serviceman had funds in his account. His business was back on track, and he could spend a stress-free weekend with his family.
Recently, a manufacturer of sporting goods identified that they had a cash flow issue and needed assistance with funding to pay their suppliers.
They have around 200 retailers around Australia, and the terms of payment vary — on average, the retailers pay at 65 days from the date of invoice. However, they have outgoings such as wages and paying suppliersfor components needed to produce the finished goods.
The solution Earlypay presented to them was to advance 85% of the debtor invoices at the time of invoices being issued to the retailers. These funds enabled them to not only pay the suppliers on time — which secured continuing discounts for on time payments — but also allowed for the company to continue to grow.
Equipment Hire Company Raises $500,000 Using Sale-Back Equipment Finance
Our client is an equipment and supplier hire company, specialising in hiring out Mobile Scissor Lifts and Elevated Working Platforms.
Their Working Capital had been affected as major contracts were delayed due to COVID-19.
With significant work in the pipeline, an immediate injection of funds was required to cover overheads until future cashflows were realised.
Upon referral from the broker, we were able to help them unlock the equity held in their unencumbered assets through a $500,000 sale-back equipment finance facility, which allowed the business to meet their payment obligations and keep their business moving.
Helping to Get the Harvesting Done
Our farmers depend on farm hands to make sure that each precious crop is harvested at the perfect time. With most farms away from populated areas, many will turn to labour hire firms to help them find the best workforce.
For those labour hire firms, attracting good candidates means a strong emphasis on compliance and good business practices. Workers are usually paid weekly so this can put a strain on cash flow.
At busy periods this labour hire client can have over 50 debtors on their books, this can mean they need funding. So, when it’s peak harvest time, how do you keep on top of the cash flow?
Our QLD-based client decided to look for a solution and contacted Earlypay to see how Invoice Finance might help. The size of the business meant that Confidential Invoice Discounting facility could be put in place releasing up to 90% of the value of their unpaid invoices.
The facility is now up and running in time for this year's busy farming period.
Our client is a commercial painting business that has only been operating for 3 months. They have been winning new contracts, but typical payments are over 30 days from invoice, so the business has been struggling with working capital.
Earlypay provided a $100K lineof creditfacility backed by their outstanding invoices without the need for real estate security and the business now has the working capital to meet their payment obligations and take on new opportunities.
Helping a family fund their growing electrical business
A family run electrical business in Queensland was growing but staying on top of cash flow was becoming a challenge.
Earlypay provided a $200K line of creditfacility backed by their outstanding invoices and the business now has the working capital and flexibility to take advantage of growth opportunities.
Our facility also included collections management services so the family can focus on running their business, knowing that their invoice collections are under control.
Helping a professional services business refinance their existing Invoice Finance facility
Rod values invoice financing as a way to boost cash flow and has been using it successfully for years. But as the busy owner of a growing business, he grew tired of the poor customer service and admin required by his existing financier and was looking for a better alternative.
As a Xero user that sells on credit terms to other businesses, Rod linked to Earlypay and was quickly approved for funding. He will now benefit from an ongoing line of credit with less admin, so he can focus on growing his business.
Helping ease the cash flow pressure
Glenn is a commercial cleaning contractor that suffers from long payment terms with his customers but has staff to pay each week.
To help close the cash flow gap, we provided Glenn with a $50k business line-of-credit backed by his outstanding invoices. And because Glenn linked his QuickBooks Online to Earlypay, he can access funds quickly and simply using our online platform.
Helping a commercial cleaning business grow
Jasmine runs a commercial cleaning business. Her business is growing but suffers from long payment terms with her clients.
To help close this cash flow gap, we provided Jasmine with a $100k line of credit backed by her outstanding invoices.
The facility now supports her business growth & provides a consistent buffer in available working capital to pay wages & other expenses.
How Finance helped this clothing wholesaler
A relatively young business that has only been trading for around 18 months. The business provides quality corporate workwear and PPE to customers across Australia.
They were growing but a large proportion of their cash flow was tied up in inventory and outstanding customer invoices. As a result, there was a shortage of working capital, which impacted their ability to maintain necessary stock levels to meet customer demand.
Earlypay provided the client with a $50k line of credit facility, which leveraged their unpaid debtor book to give them access to the cash flow needed to purchase stock and meet customer demand.
Our client has a business supplying rebars and labour to install the steel prior to the concrete pour.
Working with the leading building companies nationally, the business has a range of suppliers. Whilst good for business, this does also mean that there are some challenges in handling accounts payable and receivables. With a current arrangement through their local accountant, the business owner could see this was not scalable.
A full-service facility was recommended to enable accounts and collections to be provided as a service helping as the business expands. This business now has a facility in place and is looking continue to expand with new opportunities and secure lines of credit.
Finance for Civil Construction Industry
Andy runs a civil construction business. His business had recently won a new contract & needed funding to help with cash flow & capitalise on the opportunity.
With a $350k business line of credit in place, Andy can release working capital tied up in his unpaid invoices and have the cash flow & peace of mind of being able to service the contract & pursue future opportunities.
Working capital for growth
A family-owned baking goods wholesaler originating in 1860 has historically been self-funded via the director. They supply baking goods, pastry and cake decorating items catering to various bakeries cafes across the Victorian region.
In the time of rapid growth and increased demand, an opportunity to grow the product lines presented itself to the company. The business had no working capital facilities in place so they realised that to grow they will have to look beyond self-funding.
With a $500k Debtor Finance facility in place, they can release the cash flow tied up in their outstanding invoices and now have the working capital to expand their product lines and grow.
Helping a business recover from the impact of COVID-19 and bounce back
This business provides commercial transport and postal services and was negatively impacted by the COVID-19 pandemic. As a result, they had to reduce their staff.
Earlypay supported them with a $120k business line of credit facility. Our line of credit allows them to release the capital tied up in their unpaid invoices, helping them to cover their costs and keep their business moving.
With business picking up again, our finance facility will ensure they can access the cash flow they need on their road to recovery to meet their growth ambitions this year.
Cash flow solution for a Plumbing and Gas Business
Good plumbing is always in demand. How do you find cash flow to take on new contracts?
A plumbing and gas business in Perth, has been helping local business by providing a range of services. These include gas installations, water and waste management, drainage and kitchen plumbing.
They have been looking to increase their workforce and maintenance work, requiring a tailored cash flow solution to assist them.
Upon referral from a broker, Earlypay provided an Invoice Finance facility, which leveraged their unpaid debtor book to give them access to the cash flow required to pursue their plans.
NSW Transport Business – Driving to success
We’ve been able to support this Transport and Logistics business with a $1.5 million Debtor Finance facility.
When changes in their industry resulted in unexpected growth, they found themselves in a position where their current working capital solutions weren’t enough to support their cash flow.
Their broker introduced them to Earlypay’s Debtor Finance solution that was able to provide the access to more funds and bring their statutory requirements under control.
Their new facility now gives them the flexibility to continue to grow with the peace of mind that they will always have access to cash when they need it.
Expanding with a new major global contract
Our client is a well-established Queensland based company that offers a wide range of courses relevant for civil construction, coal mining and extraction.
A new government contract provided a major opportunity to diversify into dump truck training on the Sunshine coast. With the courses running monthly and demand growing, a solution was needed to acquire the trucks for the training and get them to the training locations in a cost-effective way.
To support them, Earlypay provided them with a $38,500 Equipment Finance facility allowing them to purchase a new dump truck so they can expand.
Equipment Finance helps Safety Equipment Company
A well-established Western Australian business that supplies and maintains a wide variety of rigging equipment and safety testing to engineering and construction industries, recently needed to quickly acquire a wide range of new safety equipment.
This was to fulfil their newly won contract by offering rental of this equipment for 6 months. They had various loans with major banks, but safety equipment can be tricky to fund.
Earlypay was happy to lend on these more unusual assets. A $100,000 Equipment Finance facility was provided to help the business purchase new safety rigging and gear from various suppliers.
Serious savings and opportunities
Our client runs a successful fencing business, and this success was leading to increased demand. In the past, they had to outsource all their powder coating jobs, which was both time consuming and costly.
We were able to work with the broker to find the best finance solution for the client to procure a new Powder Coating machine.
With the new machine, they can do all this in-house, turning what used to be a 4-day waiting period into few hours and saving on subcontractor costs. The business can now take on more orders because of the greatly reduced turnaround time and accelerate the growth of their business.
Helping a large transport and wholesale business grow
Brad runs a large transport and wholesaling business and needed a multi-million-dollar financing facility to support new opportunities.
After working through a range of scenarios with our team, Brad chose Earlypay for a combined Invoice Finance and Trade Finance Facility. This not only unlocks working capital tied up in accounts receivables, but it also preserves working capital by using trade financing to pay suppliers. Brad now has the working capital available to grow his business by expanding into new markets.
Financing used vehicles despite an ATO debt
Maintaining a payment arrangement with the ATO can be difficult for businesses. When commercial vehicles are needed quickly to help service their customers, what finance is available?
A Brisbane-based company needed to acquire two used Commercial Vehicles to keep their business moving. The challenge was finding finance when they owed the ATO as many traditional lenders, such as the banks do not like these types of assets or liabilities.
Upon referral from their broker, Earlypay was able to provide them with the finance required to purchase the vehicles in a quick turnaround time of 3 business days.
Nurturing our Environment
An eco-company has been involved in both environmental projects around Melbourne and the supply of plants into urban spaces.
Supplying the demand can be improved using hothouses which both protects plants and speeds up the growing cycle. So, they wanted to put a new hothouse and to do this needed a quick finance solution to ease their cash flow.
Earlypay provided a $50,000 Equipment Finance solution, repayable over 3 years. The hothouse is now up and running helping keep our environment healthy for all.
Equipment Finance helps a road construction contractor grow
Our Client is a Road Construction contractor that specialises in building and repairing roads, pavements airstrips and hardstands.
They recently got an opportunity to work on a new road project that required the purchase of various construction equipment and vehicles.
Earlypay stepped in to provide the client with a $481,000 Equipment Finance facility, with customised repayments over 5 years. giving the business access to finance required to purchase the new assets and take on the new project, while preserving their valuable working capital.
Funding Second Hand Assets
A civil contracting company based in Tasmania was looking to fund earth moving assets.
One of the assets was over fifteen years old which meant finding funding was difficult. Their current lender was unable to assist due to the age of the asset as mainstream lenders, generally, won’t fund past fifteen years old. One of the assets was also a private sale, which can also be tricky to fund through many lenders.
With our Equipment Finance facility in place, they could get both at the same time without the upfront costs or cash flow issues.