Established in 2006, this company is the largest custom moulder in South Australia, offering a full suite of services from concept development, product design, prototyping, mould making and product manufacture to a diverse range of clients.
The company sought a facility to diversify and add to their existing funding lines, to compliment business growth, without impacting their existing finance facilities and security provided.
Revenues in the business contine to grow solidly, meaning a greater emphasis was placed on trading terms to ensure the business could continue to expand, without any impact on meeting payments according to the agreed terms with its key suppliers. For this reason, the client’s finance introducer, a longstanding Octet partner, sought a trade finance facility to support the company’s growth ambitions whilst ensuring suppliers were paid on time.
Octet was able to provide the company with a $2m trade finance facility, following a unique structure that allows Octet to rank second with a general security deed behind other existing lenders to the group. This meant that the finance received from Octet would provide additional funding to pay suppliers with terms of repayment up to 120 days. Importantly, the facility would not disturb the company’s existing credit lines and security, which was a key requirement.