Problem: Digging pipelines for some of Australia’s largest construction and building companies our client found they couldn’t start new projects as many of these customers were paying on average 50-60 days after the invoice was raised.
This was causing problems not only when machines needed to be serviced and pay for fuel, but they were also having issues on collecting funds in time simply to pay for their staff. The first time they required funding they had $23,500 in invoices owed.
Solution: Fifo Capital was able to advance 80% or $18,800 of the $23,500 owed within 24 hours allowing the client to meet their immediate need of paying salaries and buy fuel. Two months later, they were able get further advances on other invoices allowing them to start a new project with one of Australia’s leading developers. Thanks to Fifo Capital’s innovative funding solution, the client was able to start other new projects. Today, the business has grown by another two operators and is making profits they had only ever dreamed of.