Industry:
Mining Equipment. 
Facility Limit:
$300K.
Background:
This civil engineering and mining startup acted as a wholesaler of specialty equipment to distributors across Australia. The owner-operator of the new venture had a wealth of industry experience and an established professional network. Quality products were sourced from Italy, with vendor finance secured from suppliers. This enabled the business to land stock in Australia and strong take-up from an established customer portfolio meant the business was off to a flying start. This demand quickly became a threat as existing financial arrangements could not cover the invoice terms offered to the business’ customers.
A referral from a broker, who had seen how helpful factoring had been for previous clients, saw the owner contact FactorONE. A facility was approved within 24 hours - the business owner could quickly access cash, focus on winning new orders and, most importantly, maintain growth in one of the most important phases of the business lifecycle.
In conjunction with factoring, a Tradeline facility was established to finance the increased level of imports.
