the client

This long-established family business is a leading and well-known freight services provider. Covering a vast service area spreading across New South Wales and Queensland, the company has been helping thousands of businesses to reach their destinations. With over 60 trucks of various sizes, including refrigeration and livestock, the company can fulfil any customer demands with the highest flexibility.
As a result, despite the hardships brought by the pandemic, the company continues to grow unceasingly. In the 2020-2021 period, the company’s turnover reached $8 million, and the 2022 revenue is expected to grow to $14 million. However, to kick the goal, the company needs abundant and flexible working capital.

the challenge

With the economy’s bounce-back, the demand for industrial transportation has increased intensely that exceeds the company’s capability. Therefore, the director needs a working capital facility that will help the company’s growth.

the solution: thornmoney’s line of credit

The director is an experienced client with a great understanding of the line of credit product. Hence, she was looking for a good offer in the market.

After a thorough review done by our Business Development Manager Aris Lockhart thornmoney recognised the company’s healthy and potential financial performance. Based on their debtor ledger, thornmoney offered them a flexible debtor finance facility of up to $500,000.

funding helps businesses to take off.

With the established line of credit, the client is thrilled because the company’s cashflow situation has spontaneously improved. Thus, this will help solidify the company’s goal of achieving $14 million in revenue in 2022.