Industry:
Labour hire.
Facility Limit:
$3.5M.
Background:
This Victoria-based labour hire group had experienced significant growth, on the back of emerging demand in states where they had not previously been active.
The banking facilities in place did not have enough headroom to support this expansion and an increase proved difficult to secure due to creditor pressure that had been building as a result of the cashflow tightening. The only way to break this cycle was to secure additional funding. FactorONE was able to approve and settle a factoring facility within three weeks, leaving the business much better placed to continue along its growth curve.
