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The Scenario
Family owned and operated, this VIC-based health and beauty products bulk wholesale group was established in 2014. The business predominantly sells to overseas markets, throughout China and South-East Asia markets via online retailers and marketplaces, but also sells in local markets. Originally having a substantial Debtor Finance facility in place with a major bank, the businesses strong international growth meant that the majority of their debtors were now overseas, and therefore unable to be financed via the existing arrangement.
The Solution
The company’s financial adviser identified Octet’s market-leading Trade Finance facility as a perfect fit for their client’s unique requirements. As the steadily growing business had invested significant funds into itself over time, Octet were flexible enough to assign value to this equity (retained earnings and shareholder loans) – providing them with a very healthy Trade Finance facility of $A3M as their core working capital funding line – a level of flexibility that the incumbent bank was simply unable to match.
The additional working capital capacity will be primarily used to fund local procurement requirements, and with the business having a high level of seasonality, the next steps will likely be to extend the facility by approximately $A2M to help support the peak May-October 2020 sales period. Both business and adviser were extremely impressed by Octet’s speed to market and flexibility, and genuinely excited about growing the partnership into the future.
