FactorONE Real Deals

factorone-tyresTurnover:
$2.5Million.

Facility:
$300,000.

Background:
This tyre importer / distributor, in SE Queensland, had a diverse range of debtors, each with their own special invoice terms. Payment inconsistencies put a great strain on cashflow; wages, payments to key creditors and plans for expansion were put in jeopardy.

Statutory obligations with the ATO put further pressure on directors to find finance that could ensure the necessary liquidity.

In a position where banks would not offer support at all, the business looked to FactorONE for a funding facility. This client had a relatively stable ledger, with enough good debtors to balance out those well past invoice terms. Approval was given within 24hrs and a facility drawn up in a matter of days. FactorONE has allowed the client to access funds that might otherwise be caught up in unpaid invoices. ATO payment arrangements, payroll schedules and creditor requirements can all be met without hassle.
A further testament to the financial assistance this facility has provided is that a second facility has been requested to help the client with expansion plans.

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Client Benefits

• Free up the family home
• Improve business cashflow
• Non-Bank funding source
See more benefits >

Contact Us

Phone: 1300 322 867
Head Office: Level 18, 10 Eagle St
Brisbane Qld 4000