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Wellington Truck Contractor Copes With Very Rapid Growth.
In July 2006 a Wellington transport operator had been in business less than one year when an opportunity came along to take on a couple of new major routes. This was a marvellous oppportunity for him which he did not want to turn down. However, he needed short-term working capital to fund these new developments before he would see the increased income. The banks said no due to no history and lack of security. Invoice discounting allowed him to take on new contracts and grow his business much more quickly than he could have otherwise.
This business has continued to grow and as at the time of this update (Jul '07) we have funded in excess of $800,000 to them over a year. This access to effectively unlimited working capital is allowing this businessman to achieve much more in a short space of time than he could otherwise hope to achieve. That is the benefit of using invoice discounting.
October 2008 Update
This client has just completed his last transaction with us. We have provided in excess of $1,250,000.00 of short term working capital to him over the past 2 years. He has now weaned himself off invoice discounting and can look forward to reaping the rewards of working hard to grow his business rapidly.
Invoice Discounting Case Studies