Confidential Invoice Discounting
Industry: Mining Services – Equipment Hire
Business Stage: Growth
- A well established plant hire business acquired a substantial amount of mining equipment for cash at auction
- Buying the additional equipment depleted the business’ cashflow to a point where there was insufficient working capital to maintain the viability of the company
- The business principals had considered factoring as a solution, but were sensitive to customer’s knowing about their funding arrangements
Hermes established a Confidential Invoice Discounting Facility enabling the business to receive up to 80% of its existing debtors ledger in cash in the week invoices were raised.
Cashflow was replenished and the business had a sound funding platform for the growth it had invested in.