Facility Limit: $50,000.
Industry: Equestrian Supplies.
This business searched the world for a new range of well-crafted, innovative horse floats. On the back of strong initial sales and word-of-mouth promotion throughout the tight-knit, Australian equine community, the business soon found itself placing orders with the overseas manufacturer on a monthly basis. This schedule, however, required the business to provide cash upfront for each shipment. Cash flow was being impacted by growth and the requirement to provide upfront deposits.
Tradeline with a Letter of Credit Facility was the perfect solution. The supplier was paid via Letter of Credit, goods were landed promptly in Australia and the monthly order could be processed without damaging the business' cash position.