Earlypay helps Scaffolding business smooth cash flow
This scaffolding business pays their contractors on a weekly basis but deals with firms that often take between 30 to 45 days to pay their invoices.
To help them smooth cash flow and bridge the gap between receiving payments, Earlypay provided the business with a $200K Debtor Financing facility — a revolving line of credit backed by outstanding invoices.
Now they will always have cash on hand to pay their workers on time and can get back to doing what they do best — growing their business.
Flexible Invoice Finance and Trade Finance solution for a Wholesaler
Having experienced significant growth in their revenue in recent months, the business was seeking an increase in its finance limits. However, their existing financier was unwilling to help.
Rocco contacted Earlypay, and we provided a solution that was tailored to his business needs.
Our Invoice and Trade Finance facilities grow in line with his business, which gives Rocco the peace of mind that he’ll always have cash flow when he needs it and the confidence to say “yes” to more opportunities.
Helping a labour hire business refinance their existing Invoice Finance facility
Ollie values Invoice financing as a way to boost cash flow and has been successfully using it for many 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.
Having spoken to various providers, Ollie chose Earlypay due to the flexibility and simplicity of its integration into their accounting software. He will now benefit from an ongoing line of credit with less admin, so he can focus on growing his business.
Vehicle Balloon Refinancing
An auto-parts business needed to refinance the balloon on its ute.
After reaching out to us, our team was able to help. A secured loan allowed the business to pay off the balloon with fixed payments over a set term rather than a lump sum. This gave the business financial flexibility and peace of mind with cash flow certainty.
Where there’s a will, there’s a way
When an IT Recruitment start-up secured their first contract to supply IT Contractors, it was cause for celebration. But the client’s long payment terms had them worried about cash flow. So, they decided to look for a solution and contacted Earlypay for assistance.
We provided a $200K business line of creditfacility backed by their outstanding invoices. The business now has the cash flow & peace of mind of being able to service the contract and pursue future opportunities.
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.