The Australian Invoice Finance team recently provided fast, flexible finance to a new client, an active player in the competitive LED lighting industry in WA. The business is diversified between the newer LED lighting business and a long-established concrete-cutting business.
Wholesale and distribution businesses of this kind are some of the best suited to invoice finance. They tend to have large input and inventory costs to manage while waiting for their client base to pay.
Management’s strategy was to drive sales growth primarily through the wholesale LED lighting business. Annual turnover was projected to rapidly increase to circa $10 million. This was supported by the accounts service of a well-known tier-two accounting advisory firm.
The business was operating profitably but exhausting its working capital. Furthermore, management was not getting the support it required from the previous financier to fund upcoming workflow and meet projected growth targets.
However, at Australian Invoice Finance we were prepared to be flexible to support the business and assist management. Our funding facility has helped fund growth expectations and enabled the owners to keep on top of cashflow requirements.
The AIF solution
Through the assistance of the BDM, the business was given appropriate funding through an invoice finance facility. This supported the ongoing cashflow management of this well regarded and ambitious business venture.
Learn more about invoice finance and factoring
Find out more about how AIF can help your business take control of cash flow through an invoice finance or factoring facility.