Turnover:
$350K.
Facility:
$250K.
Background:
This paint wholesaling start-up was facing the typical challenges - creating awareness, sourcing new customers, gauging inventory requirements and, of course, obtaining finance to provide adequate working capital. A lack of personal property to offer as security limited the funding options for easing cashflow concerns.
Cash tied up in unpaid customer invoices was making it difficult to keep to terms with key suppliers. A cash injection was required in order to satisfy creditors and normalise payment terms.
The nature of start-up businesses require quick, determined decision making. FactorONE was able to approve the facility and release funds to the organisation in a matter of days.
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