‘MY BANK MANAGER INTRODUCED ME TO YOU AND FOR THAT I WILL ALWAYS BE GRATEFUL’ 

CEO Facilities Management Sector


Highlights

  • Growing national company with large clients in facilities management – working capital intensive

  • Approached bank for $50k overdraft but lacking real estate security

  • IX introduced by bank and solved problem quickly:
    > $100k facility immediately
    >Room to grow to $200k this year

Situation

Turnover had grown from $1m to $3m in four years and is on track to hit $5m in the next 18 months. Blue-chip debtors: ASX listed bank, REITs and Government Departments. The CEO went to his bank seeking a $50k overdraft to secure additional working capital for a new lucrative government contract. His house was already mortgaged and he had equipment finance on all his vehicles and plant. The bank could not help him.

Solution

The bank manager referred him to InvoiceX. We gave him an answer within half an hour. He traded his first invoice and received funds within hours of having opened his account. Confidentially, totally transparent fee structure and no lock-ins. The business is now growing unimpeded and has access to $100-200k per month, without incurring any new debt! The team can now focus on growing the business. His bank manager is delighted as our product complements his existing facility.