A well-established White Goods & Electrical business with 30+ years of experience and operating under new management.
The client was referred to Moneytech through their accountant after the director had previously attempted to source an increase to their property secured business line of credit through their existing bank. The bank was unwilling to increase this facility beyond the property security available, and the client was therefore unable to source sufficient stock to capitalise on the improved foot traffic that they were experiencing.
Moneytech stepped in to provide the client with a Trade Finance Facility, giving the business access to a revolving Line of Credit with redraw to pay 100% of the value of their supplier invoices. The Trade Finance Facility boasts customisable repayment structures to suit the clients cash flow. Moneytech’s facility has provided the business access to a tailored funding line secured by the business, thus freeing up real estate security. This facility will ensure that the business can continue to fund business growth without the property security required by their bank and capitalise on seasonal sales peaks.