We are a bulk haulage business based in Gisborne, New Zealand. Primarily we transport aggregate and fill for two large infrastructure companies throughout the North Island. Additionally, we also have a few smaller corporate clients.
Until recently, we were a small business operating with two trucks, however, we are now enjoying a period of growth and have increased our fleet with demand.
Generally, the main issues that arose for our business were due to scheduling. We have clients that are very last minute with their needs, while others are more organised – this means we run into cash flow issues when we need to pay our drivers or fuel suppliers but are waiting on the payment of our own invoices.
We also had some opportunities on the table to grow our business, but we were unable to act on them due to cash flow instability (as well as not wanting to get into further debt). We spoke to a broker who recommended invoice finance as a solution.
At the time, invoice finance was a relatively new product to New Zealand but we could see straight away that it was a great option to unlock the finance from our invoices, improve cash flow and create some working capital for expansion.
Since we began working with Apricity Finance our revenue has doubled, we have been able to take advantage of larger opportunities without having to worry about how we would pay for the additional costs, in particular, employees and equipment. Invoice finance gives us flexibility and quick turnarounds as well as having no requirement for extra security (as asked for by our bank).
We have a great relationship with both the Apricity Finance Head Office in Australia and the local office here in New Zealand. Working with them is a smooth process – really “a piece of cake”.
Founder & CEO, Haulage Business
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