Supporting Aussie businesses of all shapes and sizes

Invoice Financing Solution for a Sporting Goods Manufacturer

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 suppliers for 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.

Invoice Finance to the Rescue

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.

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 its 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 Financing 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.

NSW Transport Business – Driving to success

We’ve been able to support this Transport and Logistics business with a $1.5 million Debtor Financing 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.

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.

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.

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.

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.

NSW & ACT
Level 11, 201 Miller St.
North Sydney NSW 2060
VIC, SA, TAS & WA
Level 13, 390 St Kilda Road
Melbourne VIC 3004
QLD & NT
Level 10, 410 Queen St.
Brisbane QLD 4000

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