client background

A well-established tyre import business in operation for over 20 years.

client challenge

The client was referred to Moneytech through their finance broker after exhausting all efforts in sourcing appropriate funding limits through their Big 4 bank. The business’ current Trade Finance Facility and overdraft were secured by one directors residential property who was soon to be exiting the business. The remaining directors required facilities to maintain their working capital requirements and without the level of bricks and mortar security required by their bank.

moneytech's solution

Moneytech provided the client with a Trade Finance Facility with built in Foreign Exchange, giving the business access to what is essentially a revolving Line of Credit Facility with redraw to pay 100% value of their international supplier invoices with customisable repayment structures to suit their cash flow. Moneytech also provided a Term Loan secured by a second mortgage over the business’ existing commercial property to assist payout the bank overdraft facility. The diverse range of personalised products has provided the company the flexibility to plan future expansion.