Revolving, unsecured, 80% advance rate, protected and smart!
tim. has an existing client funding approximately $145,000.00 per month.
The client designs, imports and constructs a broad range of container solutions and containers to hold liquids, such as water, waste and solvents. A highly specialised area of expertise.
The client approached tim. because they needed to import and design a range of new tank containers for a $3.5M project and fund progress claims.
Unbeknown at the time, they had approached their bank for a Letter of Credit and a “consultant” to discuss funding import solutions. The bank declined and the consultant recommended they move their facility to a large factoring group and apply for costly trade import finance. We are unsure if the consultant was swayed to move the client because a soft payment being an overseas trip or the 1% establishment fee, but in the end the client has gone with the tim. offering as its far superior.
The relationship with tim. was such that the client asked if we could also assist with them with a few options.
The result for our client:
1. Established a trade import solution (client fully funded i.e. no money out of the client’s cash reserves);
2. Increased the clients facility to $3.5M against progress claims;
3. Enormous 28% reduction in procurement and import supply costs;
4. Fully insured with timSecure™;
5. 80% advance rate against purchase orders, with zero hold backs.
Talk with a tim. trained expert. It is undeniable that funding solutions and product design is changing at a fast pace and the reality is, that unless you fully understand a client’s business and their needs you will not be in a position to offer the best solution.
When it is time to review your business funding arrangements then a meeting with a tim. trained expert is time well invested.