Our business provides heavy industry electrical services and technical labour managed teams to oil, gas and power operations. As a third-tier business providing services to a second tier (who owns the primary relationship), we are mostly contract based.
As our business model is based on short term work and contracts, we encounter peaks and lulls in productivity. Our workforce is 50/50 casual and contractor with casuals paid weekly and contractors paid on the terms stipulated in their contract (either fortnightly or monthly), which can lead to cash flow issues for our business.
Our relationship with Apricity Finance began after our previous invoice finance provider refused to fund invoices on a new client of ours due to concentration limits. We found ourselves at a stalemate – unable to access the finance we needed to fulfil our obligations to our new client and grow our business.
Apricity Finance has experience helping businesses in the mining sector with a number of clients in the industry. Their experience with businesses like ours, and their invoice finance facility having no concentration limits was perfect for us.
They solved our dilemma straight away and allowed us to get back to work with the peace of mind delivered by good cash flow. We now have the ability to plan ahead without being afraid to take on big projects as we know our invoices will be funded.
Apricity Finance has a very simple process, regularly delivering funds from our invoices on the same day. They are a great team of people to have alongside our business.
Director, Multi-discipline power services business
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