Key Facts
- The client of a finance broker owned a business that imported products from China.
- The client was exposed to fluctuations in the value of the Australian dollar.
The Client’s Problem
- In a two month period between ordering and delivery of goods, the Australian dollar had depreciated 10% resulting in a foreign exchange shortfall.
- The client did not have the cash flow to fund the increased cost of goods.
- The client’s bank was approached to fund the shortfall but the application was rejected.
Zenith Leasing’s Solution
- Zenith Leasing was approached to finance the shortfall.
- After assessing the situation, Zenith Leasing approved a new lending facility for the client.
- The new lending facility provided by Zenith Leasing took security over a vehicle.
- Client was able to release the goods from customs by paying the supplier and took possession of his goods.
- The business was able to continue as a going concern.
