Industry: Industrial Design.
Facility Size: $75K.
A background in Physics and a wide network of contacts in the plumbing and mining sectors led the director of this company to invest in a solo venture after continually being approached by third parties to consult on new product designs. After sourcing a suitable manufacturer/supplier for his own designs in China it became clear that to take full advantage of the opportunities created a funding facility was necessary to supplement the capital that the director had invested himself.
A quick, online enquiry saw our Trade team meet with the director to discuss the business’ specific needs and tailor a solution. The Tradeline approval enabled payment to be made to the supplier upfront in order to get the product on the water and on its way to Australia.
Once the goods have landed and are ready to be sold, a Scottish Pacific invoice finance facility will be used to repay the Tradeline facility and provide additional working capital to further support the growth of this exciting, young business.