We hear of plenty of business success stories of exponential growth. Few are fortunate enough to sail through growth cycles without challenges – many grow too quickly without the proper structural, operational or financial supports in place. It’s not uncommon for SME’s to launch themselves head first into aggressive growth cycles and end up ‘blowing the lid off’ their operation as they commit to work that they cannot fund. Being able to finance growth is absolutely essential and securing a relationship with a supportive financier can be the difference between success or failure.
Over 18 months ago a growing stationery wholesaler who was not receiving the support they needed to take their business from A to B approached Moneytech. They were financed by one of the ‘big 4 banks’ and were looking to expand their business vertically while continuing to grow their existing wholesale business.
Their bank financier was inflexible, inefficient and slow to respond, resulting in a significant delay in progression of growth plans. At this time they were introduced to Moneytech.
Moneytech was able to provide a combination of trade and debtor finance facilities that afforded enough working capital to support expansion activity, and provided the clarity they sought in the necessary time frame.
Compared with the incumbent bank financier, Moneytech’s Confirmed Capital debtor finance product was able to advance more funds against their receivables; Moneytech’s Credit Express trade finance product provided a simpler, more flexible solution; and most importantly, Moneytech gave significantly more consideration to the businesses long term goals and aspirations.
Armed with a working capital financier that they knew would support them through expansion, this business has now successfully acquired another stationery supplier and expanded vertically to include an overseas manufacturing operation.
Turnover has doubled the future is looking very bright.
Moneytech is an Australian commercial finance organisation specialising in Trade Finance and Debtor Finance. We aspire to become trusted partners of our customers. We support their growth by both understanding their business, and creating innovative financial products based on their feedback which fulfils their needs. Continue to our website to learn more, or call us on 1300 858 904.