This company commenced in 2006, and has grown to be specialist distributors of heavy machinery to the earth-moving, construction, forestry, material handling and quarry industries across Australia – employing over 100 staff. As well as selling new and used machines of many large brands, they offer machinery rental, servicing and spare parts.
The business had an existing quasi trade finance facility with another financier since 2017. However, the financier stopped offering those facilities in Australia, leaving the business searching for a new solution.
The company’s financial adviser approached Octet to discuss a solution that would provide the working capital to pay key part and machinery suppliers, both overseas and domestically.
Octet approved a $1 million Trade Finance solution for the business, which the company supported with strong profitability, solid balance sheet equity and no creditor pressure.
The facility effectively frees up working capital for large expenses, and helps the company to maintain good working relationships with their suppliers. The client can now move forward confidently into the next exciting phase of their development, with revenues expected to continue growing over the next 24 months.