Unable to secure financing due to below average credit rating? We’ve got you covered!
SUMMARY OF THE DEAL:
1. Our client wanted funds to pay to the supplier to release the goods from customs.
2. Other lenders were reluctant to help him given his below-average credit rating.
3. AR Cash Flow understood the scenario and offered a revolving line of credit to cater customer needs.
A small company in the business of importing cigar approached AR Cash Flow for a term loan. After several months of a continued sales downturn, the company had finally got new orders. However, it was facing the cash crunch to fulfill those orders.
The cigars were stuck in the customs and the customers were waiting to receive them. However, the client was left with no money after paying the deposit for the goods to the supplier.
Banks and other non-bank lenders were hesitant to help the client given his below-average credit rating. Due to this, the client was paying lots of fees as detention charges and was therefore extremely frustrated.
AR Cash Flow had the answer and offered the revolving line of credit and the client was able to draw down the funds as required up to the pre-approved credit limit.
With AR Cash Flow‘s help, the client was able to get the product out to the customer and fulfill an extremely profitable business.
If you have a similar situation please contact Daniel Dunsford on 0432 822 949 (02 8074 2674) or email him at [email protected]