How a specialist home builder survived the COVID slowdown & financed overseas materials purchases to ensure supplies…
Situation
A specialist home builder needed European and USA sourced specialist materials that had
- Extended lead time to deliver and
- High demand for these materials
Their offshore specialist vendors required substantial deposits to supply them.
Problem
COVID-19 slowed down their projects – and particularly payments from their customers. This severely limited their purchasing capacity.
Solution
They were connected with Finance for Business and expert Working Capital Specialist Martin Cattach.
Martin was able to arrange a trade facility with extended payment terms. By assisting them to access The Federal Government’s SME Recovery Loan Scheme, they were able to access capped-rate interest without providing property as security.
Result
The right Trade Finance enabled them to order the materials they needed.
The stock they paid for was able to be held in Australia, protecting them from COVID-19 supply chain disruptions.
