At Brunswick Invoice Finance we specialise in providing tailored financial solutions designed to address the cash flow challenges of small to medium-sized businesses. With expertise in invoice financing and lines of credit, we support companies across various industries, enabling them to manage their finances effectively and to fuel growth.
Introducing NEHCO
NEHCO, founded in 2005 by two brothers, David and Joseph, is a family-operated commercial building and shoplifting company based in Australia. The company has built a strong reputation for delivering high-quality construction projects and maintenance services, in particular across South Australia and Western Australia. Over the years, NEHCO has steadily grown its client base and expanded its operations while maintaining a commitment to excellence and reliability. This success and growth however would not have been possible if it wasn’t for the Invoice Financing services we offer at Brunswick Invoice Finance.
The Problem: Cash Flow Issues
In 2010-2011, NEHCO faced a critical cash flow challenge despite its overall success and profitability. NEHCO’s co-founder David explained, "We were in a situation where our business was thriving, but our cash flow didn't reflect our operational needs. Our payment terms with clients, which often stretched up to 120 days, created significant liquidity issues."
As NEHCO took on larger projects and expanded its service offerings, the gap between invoicing and receiving payments became a pressing concern. "We were profitable on paper, but the delayed payments meant we struggled to meet our financial obligations and invest in our growth," David recalled. The company's efforts to secure traditional financing from banks were unsuccessful, leaving them in a precarious financial position.
Their cash flow issues grew so significantly that David recalls the reason for him approaching Brunswick in the first place was bluntly because “I was probably going to go broke”.
The Solution: From Bankruptcy to Growth
David's search for a viable financial solution led him to explore alternative options, including invoice financing. "I knew about invoice financing from industry contacts and decided to explore it further," he said. "Traditional banks couldn't accommodate our needs, but I remembered receiving brochures from Brunswick Invoice Finance."
After contacting us at Brunswick, David met with our team, where we initially expressed concerns about NEHCO's extended payment terms, these concerns were promptly addressed and within a short period of time, we were able to help NEHCO strategise a workable solution to improve their payment terms and business strategy. These shifts were the first actionable changes that would help NEHCO grow into the business they celebrate today.
With NEHCO’s payment terms and business strategy reworked, the potential for invoice financing was naturally the next development in our partnership with NEHCO. "The team at Brunswick were willing to customise a financing arrangement that met our specific needs" David recalled. Our tailored approach to servicing at Brunswick is one of the key attributing factors that made the decision to continue our partnership so easy for NEHCO.
Invoice financing is when a business like NEHCO, sells their outstanding invoices to a financier like us to receive the cash owed to them immediately. This access to immediate cash allows a business like NEHCO to continue their operations smoothly, reinvest in their business, and to alleviate any stress or pressure that they may occur with tight cash flow restraints.
If you would like to learn more about Invoice Financing, you can do so here.
The Outcome: Stabilisation and Growth
Getting invoice financing was a transformative decision for NEHCO. "Once we had access to immediate cash flow relief, everything changed," David emphasised. "We could pay our suppliers promptly, cover operational expenses without delay, and reinvest in our business growth initiatives."
David highlighted the immediate impact of invoice financing on NEHCO's operations. "It was like flipping a switch," he recalled. "Suddenly, we had the financial flexibility to seize opportunities and navigate market fluctuations without hesitation."
Our partnership and financial help provided NEHCO not only a new level of stability within their cash flow, but also the confidence needed for the brothers to pursue larger contracts and expand their service offerings. It has been evident over our decade long partnership that our invoice financing services at Brunswick have helped NEHCO grow their company into the building powerhouse it is today.
NEHCO’s Recommendation
David enthusiastically recommends Brunswick Invoice Finance to other businesses facing cash flow challenges. "I would absolutely recommend Brunswick to any business in need of financial stability and flexibility," he affirmed. "Their team is not only highly competent but also genuinely invested in our success. They understand the dynamics of our industry and provide proactive support."
David also went on to praise Brunswick's customer-centric approach and personalised service. "Throughout our partnership, Brunswick has been accommodating, responsive, and easy to work with," David emphasised. "Their commitment to accuracy and efficiency in financial transactions sets them apart." Continuing on to explain that "over the years, we've processed millions of dollars through Brunswick, despite the volume and complexity of transactions, we've never encountered a single accounting discrepancy. Their precision and reliability are unparalleled."
Reflecting on NEHCO's journey with us, David emphasised the enduring value of our partnership. "Brunswick Invoice Finance has been instrumental in our growth story," David concluded. "For any business looking to streamline cash flow management and unlock growth potential, Brunswick should be your first choice."
Need Invoice Finance?
Our invoice financing solutions at Brunswick Invoice Finance have played a pivotal role in empowering NEHCO to overcome cash flow challenges and achieve sustained growth. Through our tailored financial solutions and unwavering support, we have not only stabilised NEHCO's financial position but also enabled them to thrive in a competitive market.
If your business is navigating cash flow constraints or seeking reliable financial support, book a free consultation with our team today.