Established in 2007, this family-owned raw materials business specialises in providing various graded aggregates and gravels to mines and councils. They also have sand mining rights, and a concrete batch plant that supplies concrete to a variety of clients.
The business had an existing finance facility with another financier, but wanted both better terms and to increase their working capital funding for anticipated future growth.
The company’s financial broker approached Octet to ask about a solution that would meet their needs.
Octet approved a combination of a $7 million Debtor Finance facility and a $75,000 Trade Finance solution for the client, basing the approval on the business being well-established with a reasonably strong net worth. Additionally, it had enjoyed significant, stable growth over the past three years.
The client currently expects strong growth in the coming 12 months, due to acquiring an additional quarry. Octet’s combination of supply chain funding lines will give them the working capital they need to power their growing business.