The business is a one stop fire protection shop, stocking a wide range of fire sprinkler materials such as pipe, fittings, valves and other accessories.
The company has access to a wide variety of manufacturers to ensure they can provide the best quality products at the most competitive prices with an unmatched service. Although the company has only been in existence since 2014, the people behind the operation have been in the industry for over 20 years.
Receiving funding from a major bank was becoming increasingly difficult. Meanwhile, maintaining strong cashflow in order to meet their many commitments remained essential. In addition, flexibility in their financing was important in order for them to seize upon growth opportunities as a young company.
Engaging with Octet proved to be a breath of fresh air for the directors and their admin staff. The business was promptly provided with a $1M debtor finance facility combined with a $50K Trade Finance line which has enhanced their business working capital position significantly.
Octet is now in the process of reviewing their trade finance facility with the potential of increasing it to $400K. This is an important development for the company, as they have begun to source products from Asia after a lengthy research and development initiative. These products are keenly sought after by three of the company’s clients. Their combined finance solution allows them to close their supply chain loop, using a trade facility to purchase products from abroad and debtor finance to ensure healthy cashflow for their general operations.