The industry: Construction Steel Fixing
Australian Invoice Finance is happy to welcome aboard another Queensland client.
After 30 years in the industry, QLD based steel fixing owner operator was keen to retire. He had wanted his son to take over the business. He also needed money to fund his retirement.
A Brisbane based consultancy firm was employed to assist the directors to draft a succession plan. No banks were willing to support the son to purchase the business. The father couldn’t afford to retire without a nest egg. A senior partner at the firm suggested they talk to Australian Invoice Finance.
What is happening:
Australian Invoice Finance were able to assist the son and provide finance to support the succession plan. The solution was to combine debtor finance combined and vendor finance.
• The debtor finance was able to use the debtor’s ledger to pay the father a lump sum.
• The father agreed to finance the purchase from his son in the form of monthly payments over 4 years.
Another great example of the solutions Australian Invoice Finance can offer their clients.