Confidential Invoice Discounting

Industry: Mining Services – Equipment Hire

Business Stage: Growth

Funding: $1,250,000

Background

• 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 Solution

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.