Fast growing logistics business impressed by quick funding solution

“When we needed a funding solution to keep up with the pre Christmas demand, TP24 acted quickly, communicated consistently and were able to provide funding in a week”

Steve – CEO



Company size

(<$15M Turnover)




Logistics company needs a flexible funding solution to manage seasonality

Steve, is the CEO of the fast growing, Sydney based logistics business and a seasoned entrepreneur. In the lead up to Christmas 2020, Steve was caught off guard by the significant sharp increase in orders as the world pivoted to home deliveries – partly as a result of COVID-19.


Traditional invoice financing was insufficient for their working capital needs

The Christmas delivery cut-off date was fast approaching and the reality was that the business was not financially able to manage the unprecedented uplift of business. Was there enough working capital to cover the thousands of additional deliveries? And although an amazing 25% of the annual turnover was going to be earned in a single week, the income from the jobs would not be available for another 90+ days. Steve needed to act quickly.

Need: long term funding partner who can turnaround funds quickly and can grow with the business, when and if required.

Steve had options; he knew that he could readily access short-term funding from a small business lender. In reality this would be expensive with limited flexibility, higher interest rates  and potentially without the ability to access more funding if required.

What Steve needed was a funder that would partner with him to understand his business and the ebbs and flows of funding that was required for seasonal coverage. He wanted to grow his business so low interest rates and reduced fees were a must and he was considering expansion, potentially further afield.


A debtor backed line of credit with TP24

A straightforward line of credit solution, backed by invoices not his house from TP24. Approval, funds and future partnership cemented within a 2 day turnaround time, this side of Christmas.

What the TP24 solution provided Steve’s company:

1. Clarity around what he could borrow, on what terms and QUICKLY.

2. A facility that he can tap into whenever he needs, manages seasonal requirements and potential growth opportunities.

3. He was able to access up to 80% of eligible invoices, if and when he needed.

4. Peace of mind that as the business grows, his facility grows with him.

5. A financial partner that cared about his business.


Steve formally applied with TP24 late on a Wednesday evening and by Friday lunchtime, the facility was set up and the initial drawdown had occurred.

When asked, Steve said “The TP24 solution really works for us. Our business has some seasonality in it and the line of credit being there gives us confidence that we can meet the demand when it comes”.

“In the midst of Covid-19 and with Christmas 2020 fast approaching, our logistics business had to turnover 25% of annual business turnover in a week! TP24 provided us with a secure line of credit in 48 hours, helping us to rise to the challenge and lead/expand with a competitive edge.”

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