Family Owned Electrical and Air Conditioning Company
We are a family owned electrical and air conditioning company in the Mackay and Whitsunday region. Our biggest customer is a large mining firm, who pays on extended terms. While they are a great customer, this does create some cash flow strain on our business. Additionally, our business has been growing rapidly and we needed to employ more staff. This meant we needed to reassess our cash flow management, so we could ensure we could pay wages until the new staff started generating income.
We were already using another invoice finance facility, but we decided to switch to Apricity. Apricity terms were a lot more appealing. We very much liked the flexibility, as it solved a lot of problems for us. Also, the reports we receive from Apricity are easier to read and the whole process is far more straightforward than our previous provider.
Overall, we are very glad we switched and I would not hesitate to recommend Apricity to other businesses.
Owner & CEO
Electrical & air-conditioning business
North East Queensland
Mining for value
We first opened our doors in Newcastle in 1996. We have a number of divisions within the business; lifting division, Chemical refurbishment and our rapidly growing labour hire division. It was for the latter that we needed the help of Apricity.
With the mining sector opening back up, we experienced a rapid growth in demand for outsourced trades labour hire. As our specialist trades need to be paid fortnightly, we quickly needed to source a new funding stream as we had already invested much of our capital back into our business for growth. Unfortunately, the banks were unwilling to help us with this next growth opportunity, so we were at a stalemate.
Fortuitously, at this time we received an email from Apricity. The business owner saw it and given our situation, he called. That call absolutely saved us. We could get the labour into the mine, which meant we could fund the next part of our growth.
Since then we have seen a 500% growth in trades labour and it’s still growing. We have had a number of new clients come on board because they know we can provide the quality labour they need.
I would 100% recommend Apricity to other businesses in our position, and I have done so on a number of occasions. We recommend Apricity in the strongest possible terms. They are professional, their responses rapid as you correspond with the decision makers. It has been a godsend to us and continues to be.
Importer ensures supply meets sudden spike in demand
In 2017, an importer of household goods came to Apricity seeking funding for a defined period of time. The importer had the opportunity to distribute goods as part of a ‘special buy’ program. The importer needed funding to cover the period between when the goods were supplied and when the invoice was paid. Apricity was able to fund the invoice, the goods sold out within hours and the importer was able to secure another opportunity to sell goods in this way.
Gourmet food producer requiring funding to grow business lines
One of our first customers, a gourmet jam and preserve business needed funding to help elevate their business to the next level. Apricity provided funding to invoices to Woolworths, Harris Farm and other well-known businesses. This allowed the business to focus on growth, developing a new line of products that they now supply as white labelled products. The business has now reached the stage where it is self-sufficient and funding is no longer required.
Christmas pudding maker funds cyclical peak
A maker of high-end Christmas puddings, our client uses Apricity to ensure demand is met at peak times. Already supplying to high end retailers, our customer first approached us when they were given the opportunity to supply white label puddings to a large supermarket chain. By partnering with Apricity, our customer has been able to produce the white label goods without sacrificing the quality of their branded items.