News

A Central North Island businessman acquired a forestry contracting business several months ago as part settlement for a long overdue unpaid trade debt owed for contract services provided to the business. In a short period of time, the new management disciplines and improved operational procedures have successfully transformed the business from a loss maker to a profitable business which now requires further capital for expansion purposes.

The business decided not to pursue bank finance at this early stage (although would like to do so later) due to its short trading history under current management and failure under the old ownership. With $400,000 tied up in debtors, the business' accountant recommended that Interface be contacted for a debtor invoice finance facility to fund the expansion.