The Australian Invoice Finance team recently provided a factoring facility to a Perth-based business which distributes high-quality industrial products to the mining-services industry. Mining services finance is a specialty of AIF.
Invoice finance is ideally suited to the mining services industry. Businesses in this industry have large wage and supply input costs to deal with while waiting for their client base to pay.
This particular business was growing rapidly and required additional working capital to support growth and fund upcoming work flow. The business was operating profitably but exhausting the initial start-up capital it had raised. Furthermore, the incumbent bank was unwilling to provide further credit given the company’s limited trading history.
Another Done Deal:
AIF worked with a finance broker to provide appropriate cash flow funding to this up and coming business venture. We also supported the management team to achieve its objectives. The new factoring facility will help the business fund growth expectations and keep on top of cashflow requirements.
Learn more about factoring:
Find out more about how AIF can help your business take control of cash flow through a factoring facility.