$1m Invoice Finance Facility for Asphalt Preservation Company

In Partnership with: True Viking Finance

Referred to Accelerated Payments by our Referral Partner, True Viking Finance, we initially funded this client, a specialist in asphalt preservation and dust suppression, in 2023. Impressed by the quality of our service and the impact of our financing solution, the client has since returned, and we are now providing an additional $1 million Receivables Finance facility to support their ongoing growth.

The Challenge

  • A significant portion of the client’s customers are municipalities, making consistent working capital essential to maintain cashflow during large-scale projects.
  • Despite having an existing bank facility, the client’s growth was constrained as the bank was unwilling to extend further credit.
  • This client recently establish a new facility with a bank, but soon faced restrictive covenants, such as personal guarantees and smaller credit lines, that limited their flexibility and growth potential.

The Solution

Accelerated Payments, in collaboration with True Viking Finance, structured a $1 million CAD Receivables Finance facility tailored to meet the client’s specific needs. After experiencing the limitations of traditional finance, the client returned to us, appreciating the flexibility and support we provide.

While traditional finance can sometimes offer lower costs, it often comes with more restrictive terms, as this client discovered. In contrast, our Receivables Finance facility offers more flexible cash flow solutions, particularly for high-growth companies like this one, which benefit from financing that scales with their receivables.

Having initially funded this client in 2023, we are delighted to see them return for additional support. Now providing a new $1 million Receivables Finance facility, we’re proud to continue delivering the exceptional service that this client values, helping them achieve sustained growth and success in the asphalt preservation industry.

The Benefits

  • Our solution provided the following benefits to help accelerate the client’s growth:
  • This facility ensures more accessible working capital, helping this client to scale their business and take on larger projects.
  • Our solution works alongside the client’s existing funding arrangements, providing additional flexibility without disrupting their current financial structure.
  • The non-recourse, selective nature of this facility allows this client to choose which invoices to fund, offering a risk-free and adaptable financing option.
  • This facility does not require the need for a long-term contract, personal guarantees, or debentures, giving the client the freedom to focus on growth without unnecessary constraints.
  • Our cloud-based platform offers easy registration and quick access to funding, simplifying the financing process and enhancing operational efficiency.
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