Our client is a growing small business based in Victoria. They import and supply Australian retailers with a range of home décor and bedding. The director of the business saw plenty of opportunities to expand.
The business had funding in place with a financier. However, this was not proving to be sufficiently flexible to meet their growth plans or smooth out occasional import issues that strained the business’ cash flow.
Earlypay stepped in to provide the client with an Invoice Finance Facility, giving the business access to 90% of their outstanding invoices and providing the director the peace of mind in being able to pursue growth opportunities.
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 Financing facility, which leveraged their unpaid debtor book to give them access to the cash flow required to pursue their plans.
Funding growth through Asset and Invoice Finance
Joel runs an environmental services business. He recently won a big new contract and needed funding to purchase an industrial trailer, as well as extra cash flow to capitalise on this opportunity.
Earlypay was able to act as a one-stop shop for Joel by offering Invoice Finance to unlock working capital from unpaid invoices, and an Asset Finance facility for the purchase of the new trailer.
Joel’s business is now well placed to not only fulfil the big new contract but is in a position of strength and ready to take advantage of new opportunities to grow his business.
Equipment financing helping to keep the wheels of a transport business turning
A well-established Western Australian business that transports goods and vehicles across Australia, recently needed to acquire a semi-trailer to fulfil their newly won contract.
The asset was to be purchased from a private seller, which through many lenders can be tricky to fund.
Earlypay was happy to fund an asset to be purchased from a private seller. The deal required minimal financials, which helped the business owner secure the finance and asset without any fuss.
Working Capital for Growth
Two years ago, Jack decided to leave his job and start his own recruitment services business. Knowing the wage and employment obligations of a recruitment business, Jack acknowledged early on that he’d need a working capital solution to manage his contractors and grow his business.
He contacted Earlypay, and we provided his company with a $300k Debtor Financefacility — a revolving line of credit backed by outstanding invoices.
Since the relationship began, Jack’s business has grown significantly. Better cash flow has meant the company has had the confidence and the resources to grab hold of growth opportunities — without worrying about how to cover additional costs.
Courier Services Business in VIC Comes Back From Liquidation
When a courier services firm approached us, they had multiple subsidiaries operating at a loss and were under immense pressure to stay afloat.
To make it through this rough patch, they needed to restructure. The business was looking to optimise the use of PP&E by consolidating all entities into one company, as this would help bring it back to profitability. So, they liquidated the three entities and started a new company.
Our Invoice Finance facility advanced for unpaid invoices, enabled their new company to improve cash flow, repay their debts and keep afloat. Now our finance facility will grow in line with the value of their outstanding invoices and work as a flexible solution to regulate their cash flow.
Equipping Landscaping Business for Success
After securing a large contract, a NSW based landscaping business needed to purchase a concrete laser screed and a ride-on trowelling machine to complete the job.
To maximise this opportunity, they talked to their local finance broker. The broker knew our asset financing solution could help this business and referred them to us.
By financing the acquisition of the machines, we assisted the landscaping business in fulfilling their obligations under their new contract, while preserving their valuable working capital.
Without asset finance, they would not have been able to take on the job — meaning they would have missed out on all that extra profit!
Cash Flow Pressure Eased With Debtor Finance
An established vehicle hire company’s customer base required longer credit terms, putting pressure on cash flow.
The company’s bank had withdrawn their support, restricting the overdraft facility limit. With an ATO debt and a large fleet of vehicles to maintain, the company required a working capital solution for their growing business.
The director of the business contacted Earlypay, and we provided him with a Debtor Financefacility that allowed the firm to unlock cash from their outstanding invoices and pay down the ATO Debt and existing overdraft facility.
The facility now supports their business growth and provides a consistent buffer in available working capital to pay wages, other expenses, and fund growth opportunities.
Helping to limit the spread of coronavirus
An increase in demand for their services meant that this cleaning business had a cash flow gap they needed to bridge — With fast-paced business growth, they needed cash for additional staff, equipment and supplies.
We were quickly able to put in place a $100k Debtor finance solution that provides additional funding to support ongoing working capital needs and growth.
This particular case was a result of the increase in demand for their cleaning services to fight the spread of COVID-19. We are delighted to be able to assist this business in keeping the community safe.