You don’t need to be a start up company to experience cash flow challenges. We take a look at an established business and how a sudden unplanned for change in circumstance led them to seek help from Fifo Capital.
S & C Consulting Pty Ltd is a civil communications company with some big customers. They have been busy in business for around 10 years, but when their equipment was stolen two years ago they started a relationship with Fifo Capital
Owner Shane Hope tells us how it all began.
“Fifo Capital rang me because I was on the news because all of my equipment got stolen. They rang up and said, ‘We can help you out with cash flow,’ because they knew it was going to be hard, after we got my equipment back and got going again. They helped me because they knew I was going to be in trouble for the next few months and I knew I had some invoices that I could sell them to see us through. They knew what was going on and they knew how to help us. They were excellent. That was the start of how I found out about Fifo Capital.”
Having set up his account with Fifo Capital, Shane had another opportunity to pick up the phone when his contracts changed and he found himself with another cash flow challenge. He found it easy to continue working with Fifo Capital and benefited from the single point of contact. We asked him to describe how Fifo Capital was able to help.
“We changed contracts so my customer started paying once every six weeks which was a month after we completed the job so I just needed some cash flow to keep us going. I used Fifo Capital for about a year, and then our contracts changed again and I got paid quicker so I stopped needing them. I haven’t used them for a year now. It was good. I was working for two companies who were very slow to pay. I needed something to keep the cash flow going so I could pay for the materials on time and pay all the wages each week. It was good.”
“I would recommend working with Fifo Capital to other businesses. Their efficiency is great – the next day they had the money in my bank account. They’re really good to get along with. Everything they said they were going to do they did. It was quick, easy, and reliable.”
Circumstances change, but business owners like Shane need to be able to react to unexpected challenges and manage their cash flow for survival. So for whatever the future brings, it’s worth finding out more about the products and services offered by Fifo Capital.