Allcoast Roof Services was founded in 2017 as a small installation business but grew quickly into a major roofing manufacturer and wholesale supplier on the New South Wales Central Coast. The rapid period of growth – coupled with large upfront costs and 30-day customer payment terms – created significant cash flow challenges for the business, inhibiting its potential for future growth.

“The manufacturing sector is not for the faint hearted, that’s for sure,” explains Tom, General Manager of Allcoast Roof Services. “We had a lot of up-front costs – machinery, transport fleet and wages, for example.”

To overcome this challenge, Allcoast Roofing Services needed a fast, flexible and affordable way to unlock the earnings potential of their unpaid invoices prior to month end, without affecting long-term profitability.

ScotPac Success Story – Allcoast Roof Services

Robert Gruhl, G&F Financial’s National Broker Manager, has been working with Allcoast Roof Services for eight years. After reviewing their receivables ledger, he approached David Craven at ScotPac.

“We at G&H are a big fan of matching a client to a lender,” Robert explains. “ScotPac offered a really good fit for the business size and their future financing needs.”

After a thorough analysis of the business, David recommended an Invoice Finance facility, an innovative solution to streamline cash flow.

To incentivise customers to settle their accounts promptly, David suggested offering an early payment discount. Another benefit of the Invoice Finance facility was that it enabled Allcoast Roof Services to switch to volume purchasing from suppliers – and the savings from this have allowed the business to fully offset the cost of the funding.

“The best thing about this facility is that it grows with our business,” adds Tom. “That’s something that we really value.”

Time is often of the essence when it comes to obtaining business finance. In this case, the time between application and funding availability was just three weeks, making a world of difference for Allcoast Roof Services.

“Dave was really understanding and took the time to get himself educated about our business,” Tom explains, “and he came up with an approach that was tailored to us.”

A stand-out for Tom was the exceptional level of customer service and attention to detail, which made finding the right facility feel like a genuine partnership. For all parties, the priority was improving the business’s bottom line by streamlining efficiencies and maximising cash flow, thereby providing an excellent foundation for future growth, as well as insulating the business from possible economic downturns.

“There was a really good education process,” adds Tom. “Together, we were able to nut out a proper solution that worked for us – and it’s been great.”