Recent Case Study
Not Crying Over Spilt Paint
ABC (Name withheld) Painting Ltd is an independent painting contractor from Hamilton, providing interiors and exterior paint solutions for the domestic New Zealand market. The company has been trading since 2011 and is known for delivering high quality finish and great customer service. As a successful company their marketing campaigns have put them in demand and opened a new line of enquiries.
ABC had generated a reputation for excellent work and, through many client testimonials and referrals needed a finance solution to assist the company’s cash flow to be able to accept a multi house painting job offered by a developer. In order to source a flexible and competitive financing solution, ABC first approached their banking partner Westpac, only to find that the bank could not assist due to lack of tangible assets for security. Kindly the business manager at Westpac bank referred ABC to Invoice Funders to assist in the provision of working capital based around the security of the customer invoices. ABC contacted Invoice Funders and quickly determined that Invoice Funders spot factoring facility was competitively priced and suited to what it was looking for.
Business Development Manager Sarah Lochead-MacMillan at Invoice Funders explains: “Most growth businesses like ABC Painters turn to us because traditional bank finance will not give them the flexible financial help they need to grow their business and accept these larger contracts they haven’t experienced before.” “Invoice Funders has a lot of experience in working with smaller clients and understand the changing needs of smaller firms. We absolutely understand the particular needs of the contracting industry, so we’re well-suited to assisting ABC.”
The Invoice Funders Solution
Invoice Funders understanding and experience of the issues for ABC Painters was key to the decision to choose Invoice Funders as its finance partner. Invoice Funders spot factoring / invoice discounting service allows ABC to grow quickly and cost effectively without being encumbered by lack of cash flow and underlying working capital. It gives them the confidence they can resource larger projects both in supplies and staff.
The working relationship between the two companies has grown, Invoice Funders has been able to assist with further contracts as the developer has not only employed them for further projects but also referred them on to similar multiple house jobs.
Contractor Solutions through Invoice Funders:
Smart Spot Factoring facility
Ease of contact and setup
Service with a personal touch
No time consuming paperwork