INVOICE FACTORING SAVES AND GROWS A CABINET MAKING BUSINESS

An entrepreneurial cabinetmaker in a major Australian city had a successful and growing business. He had the offer to take on some new major contracts but did not have the finance or working capital to fund his business growth and expansion.

It was likely he was not going to be able to take on these new contracts, which would have been an opportunity missed, because it was a potential “game changer” for his business growth plans.

He went to nearly all the main banks and finance companies. None of them were prepared to offer any financial support. Finally, a finance broker who was unable to assist him through a bank or other business finance options, introduced him to Nova Cash Flow Finance. This was probably his last chance to take on these really important jobs.

Solution

Nova Cash Flow Finance was able to offer a cash flow finance solution through factoring his invoices. The also found an innovative way to verify the work was completed.

The unpaid sales invoices for work verified as completed could be used as security to release more working capital, precious cash flow finance, into the cabinetmaking business. That way they could meet payroll, rent and all the other expenses.

Nova Cash Flow Finance was able to approve his application within 24 hours and offer the business a facility that provided the necessary capital to take on the new contracts and even larger projects, with the confidence that he would be able to meet payroll, pay rent and all the other expenses, and fund the acquisition of stock and parts required for each project.

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Result

The new client was able to turn his $300,000 on the debtor ledger, the unpaid invoices into cash flow – into working capital for his cabinet making business.

He was able to engage new staff, take on new work and contracts eventually larger jobs confident in the knowledge that he would be able to pay his bills when he needed to.

By using the receivables finance facility he had in place through Nova Cash Flow Finance he went from distress to success.

What Our Clients Say About Us:

5/5

Since commencing business with Nova Cashflow Finance, their service has been impeccable, always working with our staff to meet deadlines and meet business requirements. The team at Nova Cash Flow Finance are easy to work with and have excellent interpersonal skills. Nova Cashflow Finance have a user friendly online interface which allows us to submit invoices, download reports and update customer information with ease.
I would like to ask you to consider Nova Cashflow Finance for your factoring needs of your company. I strongly recommend the services of the company.​

Connie

New Labour Hire Business

Nova provides our business with a reliable easy to use cash flow solution. Their funding has helped our business grow and develop. They have easy to use online software that is very transparent so we can see what is happening with each and every invoice. ​

Tyler R

Transport Business Owner

I don’t think I could operate my business without Nova Cash Flow Finance. They turn my loads into cash and keep my wheels rolling.

Clive S

Transport and Logistics Operator

Cash is King in our business and Nova Cash Flow Finance have solved our cash flow problems more than once. It’s one of the best moves we have ever taken.

John M

Distributor

Nova Cash Flow Finance have been a big help in our business. Keeping the cash flowing and helping us to pay our bills and grow our business.

Trish W

Contractor

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If you have any Cash Flow Finance or Working Capital requirements, feel free to contact us on 0467 299 303 or email us at operations@nbf.com.au.