A first tier accounting firm was provided with a brief to identify a cash flow solution for a growing mining services and transport business. The brief:
- Free up the property portfolio;
- No lock-in covenants;
- Facility limit $500K per month with options to increase to $1M pm;
- A trade facility for the importation of machinery wear protection technology;
- Discreet facility;
- Ease of use.
The client has provided their current funding provider with three months’ notice so that they can implement tim’s funding solution as follows:
– A revolving funding line to draw and pay both their suppliers and contractors within 24 hours of invoices being raised by the supplier and contractors on renegotiated CoD terms.
– A market first end to end trade import facility requiring limited client funding.
– A cash flow facility to draw up to 85% of raised invoices.
– Fully online and managed through timEx and linked to the clients cloud accounting package with automated reconciliation to the accountant.
LIMITED RECOURSE and directors PROPERTY portfolio freed up.
The tim. facility, will see the clients gross margins improved and the cost of the total funding < 8% pa.