Case Study: Hose 24

“Before Growth Finance, we were stuck waiting 60 days for payment. Now cash comes back immediately, we can buy wood, pay our staff, and keep delivering. It’s only because of Growth Finance that we’ve been able to almost double our production.”

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Case Study

Hose 24

Hose 24 (Pty) Ltd, owned by Riaan de Lange, supplies chicken nesting box shavings to County Fair Chickens/Astral Foods. With our limited working capital tied up in invoices that took up to 60 days to pay, our business growth was restricted.

“I was apprehensive to start with,” recalls Riaan, “but it’s literally only due to taking the leap with Growth Finance that we have been able to almost double our production.”

Before partnering with Growth Finance, Hose 24 produced a maximum of 50 to 60 bins of chicken nesting material a month. With invoice discounting unlocking our cash out of our invoices immediately, our working capital is recycled immediately, enabling us to buy wood and manufacture more stock.

“We hit 71 bins in November and 99 bins in December. From January, 100 bins will be our minimum,” says Riaan.

By bridging the cash flow gap, Growth Finance enabled Hose 24 to massively ramp up capacity, keep suppliers and staff paid and meet the rising demand of County Fair Chickens without putting our cash flow under any pressure.
SUPER SIMPLE FUNDING

Is invoice discounting for you?

You get immediate access to income you have already invoiced but would otherwise only receive from your customer at a future date (30 or 60 days later) because of your agreed payment terms. Discounting invoices enables your “terms” business to run as a COD business. You then enjoy all of the benefits of a cash business whilst being able to give your valuable customers payment terms; often a stronger negotiating tool than lower prices. Invoice discounting accelerates your cash flow and opens up so many trading options.
FAQs

How does it work?

1. Deliver your products (or services) to your customers and invoice them on your normal 14, 30- or 60-day payment terms
2. When you need access to cash flow, send one or more of your outstanding invoices to us
3. Your customer confirms the invoice
4. We pay you up to 80% of your invoice immediately
5. Your customer pays the invoice directly to us
6. When your customer pays, we pay you the other 20% of your invoice less our fee

Is invoice discounting for you?

Looking to grow turnover?

New customer requires a 45-day account, but your cash flow won’t stretch?

Landed that dream order and need access to your cash locked in your debtor’s book?

Unexpected business expense?

Is your bank not ready to grant or extend your overdraft?

Yes?
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Do you qualify?

Time in business

6 months or more of revenue

Annual turnover

R1m +

Location

Registered in South Africa