Capital Maximiser

Industry: Transport – Road Freight

Business Stage: Re-capitalisation

Funding: $1,000,000

Background

• A transport business with a long track record, needed to restructure its finances to facilitate the retirement of one of the business partners
• The business needed to raise working capital so that existing financial arrangements could be unbundled and the partnership could be bought out
• No bank could be found to fund the recapitalisation without the provision of additional security until a track record was established under the new proposed management structure

Hermes Solution

Hermes established a Capital Maximiser Facility comprising a Factoring Facility of $550,000 advanced against the debtors, and a Term Loan for $450,000 advanced against the business assets and commercial property.