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:
- 80% advance rate
- Flexible choice of debtors within the ledger
- Pay as you go (discount rate only applies on drawn funds)
- 100% online with full account and reconciliation
- Limited Recourse
- No property security
- 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.