The labour Hire industry is well suited to invoice finance as these businesses have wages and other input expenses to manage while waiting for customers to pay.
Two brothers with more than 50 years’ combined experience in the construction, building and project management sectors decided to launch their own business on the NSW central coast.
The brothers were confident they would be successful as they had the skills, experience and an exceptional name in the construction industry.
However, once they started the business, they were inundated by customers. They were shocked and unprepared for the high level of demand for their services and quickly became overwhelmed.
They simply didn’t have the working capital to grow the business to meet customer demand. Compounding their problems was the fact that no bank would lend them money due to the infancy of the business. and the fact the Directors were not prepared to provide property as security.
The brothers reached out to their long-time financial broker,who immediately contacted Australian Invoice Finance. AIF was able to assist the brothers immediately; providing funds into their account within 48 hours.
Thanks to AIF the business has been able to accept more work, plan for expansion and employ more staff. The business can do this with the confidence of having a supportive financial partner.
Another Done Deal!