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This long-established food and beverage company manufactures soft drinks and other beverages for customers across Australia.
The business had finance with an existing traditional financier; however, due to having few major debtors, they could no longer meet the facility’s concentration limit requirements. Their primary financial institution suggested that they refinance.
The company approached Octet to ask about a solution that would meet their needs and provide working capital fast.
Octet approved a $1.5 million Debtor Finance and $75,000 Trade Finance solution for the client. This decision was based on the company’s good quality debtors, lack of bad credit, and solid processes. While the company had experienced difficult trading conditions over the past 12 months, they’d implemented strategies that would comprehensively address these issues.
This fast working capital funding will enable the business to bring their creditor accounts back in line with agreed trading terms. Going forward, they’ll then have the funding to continue as a far more profitable business.
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