- 25 June 2011
- Posted by: Lucinda
- Categories: Success Story, Wholesalers
“We’d looked everywhere and had really hit a wall – but somehow Clancy found a solution that worked perfectly for us.”
ELECTRONIC GOODS IMPORTER, TURNOVER €4M
The Problem: Needed to fund a confirmed order, at limit with bank.
This established business won an order from a blue chip debtor, to supply goods for the Christmas Market. The order value was €500K with a profit margin of 30%. However he he needed to pay his suppliers in China prior to shipment, and he had reached his funding limit with his bank.
The Solution: We arranged Purchase Order Finance for €300K. Once the goods were ready for shipment, the suppliers were paid. After the transaction was completed, he realised a profit of €150K. This crucial line of finance enabled him to maximise opportunities, without the need to dilute equity.