cashflow control: keeping trucks on the road

Find out how an existing asset finance client accessed our invoice finance product to reduce working capital stress.

the client

Our client is a transport provider based on Australia’s east coast. With an annual turnover of around half a million dollars, this company is family-owned and has been in business since 2020 as a subcontractor for a major transport provider.

The business had an existing relationship with thornmoney through a vehicle finance loan and had experienced such good customer service that they reached out to explore the possibility of accessing invoice finance.

the challenge

Being in the transport industry and dealing with rising fuel costs (not to mention other expenses) meant this client was under a lot of pressure to manage costs.

One of the biggest challenges was bridging the financial gap between completing a job and being paid. The need to find the cash flow to pay drivers and other bills meant the client couldn’t wait 60 days for invoices to be reconciled.

The other difficulty for this particular client was the amount of invoice finance it required; it was a lower amount than most major lenders would be happy to accommodate.

the solution: From asset finance to invoice finance

The size of this client sat slightly below thornmoney’s usual scope for invoice finance but our flexible, case by case approach meant we could still help them out.

After reviewing their business model and completing due diligence at our end, our BDM Aris Lockhart were satisfied that the company was reliable and that it had dependable clients. As a result, we were able to establish the invoice finance arrangement.

Having access to the funds from invoices within 24 hours of them being issued gives our client the ability to stay in business and continue to serve its customers.

As a result of working with thornmoney, this business is able to meet its loan obligations, protect its credit score and pay staff on time. The directors were happy with the outcome and impressed with our simple invoice finance process.

Contact our BDMs today

Let’s connect today and help your SME clients acquire their much needed working capital!

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