22.11.17 – Finance Broker alleviates a significant headache for their transport client – tim’s weekly funded scenario

tim. received a written submission from a finance brokerage requesting a proposal to solve the following issues.

Their client was a heavy haulage and logistics business and had an existing whole of ledger facility with an Australian factoring company.

The client had a significant number of debtors with payment terms ranging from 14 days to 45 days EOM.

The client had recently won a new contract which as a result exceeded their debtor concentration limits imposed by their current funder. Despite numerous meetings, the funder was unwilling to increase the advance rate from 55% of ledger.

The tim solution provided for the implementation of the tim Series Range, allowing funding for the clients whole of ledger to 80% advance rate. Plus:

  1. 80% advance rate
  2. Flexible choice of debtors within the ledger
  3. Pay as you go (discount rate only applies on drawn funds)
  4. 100% online with full account and reconciliation
  5. Discreet
  6. Limited Recourse
  7. No property security
  8. No lock-in contract

 

If you are finding it difficult managing advance rates, concentration limits and convoluted terms and conditions, than talk to a Series Range specialist today.

Innovative funding is available and the right tools allow you to build better funding solutions for your clients.