client background

A long-established family business that owns and operates a quarry

client challenge

One of their large stationary crushing machines required a new gearbox. This issue was particularly challenging because it happened during the peak season, and with one of their two crushing machines out of commission, the business was losing $50k in revenue every week. Even though purchasing a new gearbox would cost $200k and involve importing it, the client didn't want to use their working capital to cover this repair and maintenance expense.

moneytech's solution

To address this situation, Moneytech, a financial services provider, stepped in. They assessed the crusher machine, assuming it was in working order and without any encumbrances. Using the machine's value as collateral, Moneytech devised an equity release plan to raise funds for the new gearbox and the associated shipping costs. This allowed the client to avoid using their working capital. Moneytech offered an Equipment Finance solution, which was secured by the crushing machine itself. The client could pay back the loan over a period of three years. Additionally, Moneytech provided a Debtor Finance Facility worth $1m to support the client's working capital needs. Thanks to Moneytech's assistance, the new gearbox was installed just in time for a new order from a customer worth $400k. This successful transaction not only covered the cost of the gearbox but also brought in additional revenue for the business. Overall, Moneytech's innovative financial solutions helped the family business overcome their equipment malfunction and maintain their cash flow during a critical time.