Working Capital for growth
There comes a time for most businesses when they realise that to grow, they’ll have to look beyond self-funding.
Here’s how we helped a VIC based baking goods wholesaler improve their cashflow and grow through debtor finance.
A family owned baking goods wholesaler originating in 1860 has historically been self-funded via the director. They supply baking goods, pastry and cake decorating items catering to various bakeries, restaurants and cafes across the Victorian region.
In the time of rapid growth and increased demand, an opportunity to grow the product lines presented itself to the company.
The company had no working capital facilities in place so they realised that to grow they will have to look beyond self-funding.
They contacted their local broker who knew that we could help them. Their debtor ledger book was good and well spread so debtor finance was a great option for them. The broker referred them to us and we were happy to help them.
Classic Funding Group finance solution
Our $500k debtor finance facility is now in place, which will aid the necessary working capital to assist with their FY20 growth aspirations.
Armed with our finance facility, they can now focus on the expansion of their new product lines rather than worrying about whether they will have cashflow at the end of the month to make their payments.