Business Term Loan, Trade Finance Line of Credit Facility & Foreign Exchange Facility

client background

A newly established manufacturing business operating for 12 months.

client challenge

The client was referred to Moneytech through their finance broker after exhausting all efforts in sourcing appropriate funding limits during Covid-19. The director had invested a significant amount of capital into a new plant and equipment at the time of establishing the business and on the back of strong customer orders and with a large proportion of their working capital tied up in the import of materials and slow paying customers (debtors pay between 45-60 days), the business required a funding solution to free up cash to meet customer demand.

moneytech's solution

Moneytech stepped in to provide the client with a $700,000 finance package made up of a $350,000 property secured Term Loan Facility, coupled with a $350,000 Trade Finance Line of Credit. On full review of the business’ current facilities, Moneytech was able to provide the customer with a number of cost savings by refinancing an existing business loan on better terms with surplus capital to invest in an upgrade to existing plant and equipment. From a working capital perspective, the Trade Finance Line of Credit allowed the business to pay 100% of all domestic and international suppliers in foreign currencies for stock and materials required in the business operations. Moneytech’s diverse product suite, flexible credit approach and willingness to assist the business during a time where many banks and funders are tightening policy, has provided the director peace of mind in meeting current customer demand and the ability to expand comfortably into the future.

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