‘WITHOUT INVOICEX, WE WOULD NEVER HAVE GROWN TO THE EXTENT WE HAVE’
CEO Telecommunications Sector
- Family business in the burgeoning Telco infrastructure sector
- Highly experienced and growing quickly
- Went to bank seeking funds to expand growth – bank wanted mortgage over their houses to extend business overdraft
- Owners unwilling to do this on principle.
- Came to InvoiceX and are now growing rapidly, whilst maintaining full ownership of their homes
Young company comprising experienced family members, was formed to focus on a sizeable multi-year contracts they had secured as part of the national NBN roll-out.
They visited their long standing bank to obtain an overdraft. The bank would not extend finance without real estate security. The directors owned their houses outright, but on principle did not want to use these as collateral. They had worked hard for them and wanted to keep them separate to the business. Where to from here?
The business owners met with InvoiceX which has considerable experience in the telecommunications sector. A funding facility utilising their blue-chip invoices was established immediately: totally confidential (their customers do not know), no set-up, termination or hidden fees and able to be used as and when required, ie. no lock-ins. The business is now expanding profitably, and new projects are being considered that beforehand were not on the radar. Importantly, the owners now retain their family homes.
We have all become accustomed to banks taking our real estate security, even when they do not need it. InvoiceX offers an excellent growth capital solution, which allows you to keep what you have worked so hard for – your family home.