Facility Limit: $600K.
This established provider of ‘fly-in, fly-out’ services has contracts with large mining and energy projects throughout Australia. An opportunity arose to purchase an aircraft from a New Zealand supplier, which would expand the existing fleet and position the business for significant growth. The organisation was able to secure equipment finance, via a Chattel Mortgage, however required that goods be located within Australia and Inspected prior to funding. The overseas supplier required payment as soon as the aircraft was transported.
Tradeline’s flexible, one-off funding option provided the finance necessary to pay supplier. The client chose 30 day term for repayment allowing sufficient time to transport the aircraft and settle the Chattel Mortgage. On top of this, the fast approval and straightforward settlement process ensured that the aviation group could take advantage of the rare offer. Directors are left with peace-of-mind as the Tradeline facility provided sufficient time to meet the settlement criteria for the Chattel Mortgage.