Northern Qld based Mining Company was seeking funding for $5M so they could fulfil a new supply agreement with a large publicly listed Company.
We put a master limit agreement of $5M in place so that client could purchase multiple assets under one approved lending limit.
Every time client finds a suitable asset, they send us an invoice so we can prepare finance documents and settle the deal in a timely manner.
So we can monitor this limit, we undertake an annual audit on the file to keep pace with ongoing or increased borrowing requests from the customer.
KEY POINTS
- Client was able to diversify borrowing portfolio (more than mainstream funding options)
- Approved lending limit allowing client to purchase equipment at short notice
- Annual audit increases lending limit commensurate with business growth
