Case study
Cross business solutions
Liberty Financial was approached by a recruitment business placing both contract and permanent employees in blue-chip corporations. The business had a turn-over of $80 million and offices in all states. When one of the state offices was put under administration due to difficulties in meeting tax obligations, the bank froze ALL the company’s bank accounts, even though every other state office was trading profitably. This had the potential to close down the business permanently. In a contractor recruitment business, wages are paid weekly and maintaining cash flow is critical.
Liberty Financial was able to respond within 4 days of the first approach with an unconditional multiple-asset funding package, incorporating three property facilities (commercial and residential) and two revolving receivables facilities. Liberty effectively "rescued" this business from impending demise. Today, the business continues to grow and prosper with Liberty funding.
*This case study is based on the experience of multiple customers. Details have been changed to protect their privacy.
