How we financed a large plastic co-extruder for a manufacturing business
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Case Study: How we financed a large plastic co-extruder for a manufacturing business
Background
Recently one of our manufacturing business clients was experiencing rapid growth post-Covid. The business needed to expand via the purchase of a new co-extruder machine to meet growing client demand for their plastic product.
Challenges Faced
The machinery to be purchased was valued at $200,000, and it was manufactured in Germany. Our client was required to pay a 20% deposit to an Australian Approved supplier/distributer, before the machine was manufactured overseas and shipped to Australia.
The machine was “specialised”, which meant that locating a suitable Asset Finance Lender was challenging.
Outcome
We were able to source an Asset Finance Lender to finance 100% of the cost, once the machine had arrived in Australia and was installed into the factory.
The business’ manufacturing capacity has increased to meet demand, and our client is enjoying the successful expansion in his business.
