Industry: Bedding.
Facility Limit: $800K.
Background:
This manufacturer had great success, since commencing trade in February 2014, in selling its mattresses and bed bases to major retailers. The owners’ reputation within the industry, as well as quality products, have played a major role in the business rapidly reaching a breakeven level of trading. The directors, who have invested their own money as working capital, require a better and less involved way to support cashflow as the business continues to grow. Their initial investment of capital is inadequate to support such significant growth over the long-term; revenue is expected to increase by $6M in FY15.
Our factoring service provides access to finance that grows in tandem with the expected increase in business performance. The opportunity to utilise a Tradeline facility to source more stock from overseas suppliers is also pertinent to business plans. Furthermore, the directors have peace-of-mind that sufficient funds will be available to cover stock purchase, wages and creditor payments.
