- 25 June 2011
- Posted by: Lucinda
- Categories: Success Story, Wholesalers
“I was amazed how quickly Clancy was able to arrange funding – we had money in our bank within days”
MEDICAL DEVICE EXPORTER, TURNOVER €2.2M
The Problem: Needed cashflow to “fund the gap”, outside lenders criteria
This business specialised in exporting medical devices, to international customers. Their customers require extended credit, but they had to pay suppliers in 30 days. They wanted to use Invoice Discounting to “fund the gap”. However, they couldn’t get find an Invoice Discounting provider who had an appetite to fully fund the overseas debtors.
The Solution: We introduced them to a lender who specialises in Export Finance. Within days of meeting the funders, they had received offers of finance. The facility took two weeks from initial meeting to pay out.