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.
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!
Debt Consolidation using Sale-Back Finance
An increase in sales is usually considered a good thing. However, a significant increase in sales for a road construction business created substantial cash flow problems for the directors. As a result, the company incurred a considerable tax debt which was under a repayment arrangement at $10,000 per month. They also had a short-term business loan with monthly repayments of $6,600 per month.
With significant cash flow problems and monthly repayments of $16,600, they had to find a finance solution that suited their needs.
Upon referral from the broker, we were able to help them consolidate their debt by unlocking the equity held in their unencumbered equipment. This was achieved via a $197k Sale-Back Finance facility with repayments of $5,157 per month over 60 months.
The consolidation of the debt had two benefits:
1) A reduction in monthly commitments of $11,400 — significantly improving cash flow.
2)The removal of the tax debt.
Essential IT Equipment Finance for a Dental Practice
A successful dental company required a range of Technical and IT Equipment, including computers, printers, telephones, docking stations and monitors. They were looking to purchase these due to relocation to a new office.
With a range of equipment needed, they knew that paying the total amount upfront could put a strain on their cash flow. So, they approached us for equipment finance.
By working with our team, they could get the full $57k they needed to secure their essential equipment.
Armed with these new pieces of IT and technical equipment with all the latest bells and whistles, they can now handle their daily operations with ease.
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.
Equipment Financing solution for a Pet Food Manufacturer
Our client is a pet food manufacturer.
With an increasing demand for their products, they were looking to acquire new automated food processing equipment.
We were able to work with their broker to find the best equipment finance solution for the client to procure the equipment.
With the new equipment in place, they can streamline food processing time and reduce manufacturing costs. The business can now increase its capacity and take on more orders to accelerate their growth.
Asset Finance to replace an old and underperforming forklift
When a performance and service business was looking to replace their old and underperforming forklift, we were able to assist them with finance.
The result? More efficient operations, increased output, and better cash flow.
Don’t get stuck with equipment that is not moving the needle. If you have old and underperforming equipment that needs replacing, please contact us. We can help you with financing.
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.