Lock Finance is committed to helping companies unlock the potential in their businesses. As New Zealand’s leading independent business finance and factoring service provider, our primary aim is to help New Zealand businesses grow through the use of business lending tools that are designed to help when traditional banks and other lenders are not interested. This was certainly the case with a recent client, a very successful brewing company. Carry on reading to find out how we helped brew up some growth for this company.

Brewing Company’s Story

An award-winning and very successful company already, this business had an annual turnover of about $3 million but its scope was limited to the North Island. A new nationwide order, however, doubled their turnover pretty much overnight but also meant that their cash reserves were squeezed with the increased demands made on their logistics and operations to meet the challenges of the new order.

The business initially sought help from their bank. However, their request for an increased facility was unsuccessful as the company didn’t have the required collateral in terms of existing plant and equipment against which the bank was willing to lend money.

The company, therefore, faced a dilemma. How could they support the sudden and rapid expansion of their business with a much-needed cash injection?

Lock Finance’s Solution

As an existing successful business, this company had a very good debtors ledger. In fact, they had significant amounts of money tied up in their debtors book. Lock Finance’s debtor finance product was able to free up that cash so that the brewing company could fund its expansion with its own cash. This was a very successful outcome for the company which continues to go from strength to strength.

Lock Finance: Flexible Solutions When You Need Them

The great beauty of Lock Finance’s debtor finance product was that we were able to act quickly. Fast decisions and quick access to the cash already tied up in the business was critical in this case so that the brewing company was able to rise to the challenges rapid expansion involved.

Here at Lock Finance, we provide more flexible solutions to sustain business growth than traditional banks and lenders. And because we have a range of solutions on offer to suit most companies’ circumstances, we are able to act quickly. And in today’s highly competitive marketplace, every business requires flexibility and a swift response to changing circumstances. We can support you on that journey.

And so, if your business is grappling with similar issues of rapid growth and maintaining adequate cash flow, then get in touch with us here at Local Finance on freephone 0800 275 5625 or complete the online form. Just as we did with this brewing company, we can help unlock the potential in your business. Contact us today.