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.
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.
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.
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.