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.
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.
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.
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.
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.
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.