The Challenge:

A local NZ retail electrical company that specialises in renovation work faced an urgent financial challenge. With $60,000 in supplier debts due within two days, the business needed funds to avoid jeopardising its relationships with key suppliers. On top of that, they had ongoing overheads to cover for new projects, including wages, stock and other expenses.

Complicating matters was that the business had outstanding tax debt that required a lump sum payment to the Inland Revenue Department.

Having worked with Bizcap in the past, the business owner knew exactly where to turn for fast access to flexible funding, and reached out to Bizcap through their adviser.

The Bizcap Difference

When assessing the electrical company’s application, Bizcap noted that they had strong business revenue, a solid history of over 10 years in operation and prior positive experience with Bizcap’s services. Despite carrying IRD debt, their revenue remained robust and they were using the funds for projects set to generate income.

Within 24 hours, Bizcap approved a $165,000 Fast Business Loan.

The Outcome

Of the funds, $60,000 was used to pay off the supplier debts that were due in two days, enabling the business to maintain strong relationships with their suppliers and avoid any disruption in the supply chain.

The remaining capital allowed the company to continue supporting its new projects, covering critical expenses like wages and stock.