News

A start up concrete contracting business, formed through a partnership between a tradie and his accountant, won subcontracts to repair residential driveways and concrete pads damaged in the Christchurch earthquakes.

The company experienced some impressive growth but it did not have the asset security or trading history to obtain the additional bank funding required by the business. Temporary overdrafts were becoming commonplace and their bank referred the business to IFG.

Six months later the business has grown to 15 employees and the bank is in a position to provide increased funding facilities. The bulk of their funding need is now provided by the bank with IFG providing the occasional top up funding when business activity is high.