Manufacturer of wooden crates
Annual sales $500,000
Facility amount $200,000
This new company manufactures specially designed wooden crates for the cranberry industry. Because it offered an innovative and unique product, the company found itself increasingly overwhelmed with new orders. The company was facing severe cash flow restrictions when it contacted Camsa.
As is the case with many start-ups, the company’s insufficient net worth impeded access to financing from traditional banks. The nature of their operations was cash-intensive, with requirements to support a growing payroll and to purchase large amounts of raw lumber. Buyer payment terms longer than those offered by suppliers resulted in very limited cash flow, greatly hindering the company’s ability to take advantage of new business opportunities.
Camsa’s Accounts Receivable Financing program was implemented. The program allowed the company to leverage 85% of its invoicing immediately upon delivering its finished product to the customer.
The company gained increased working capital and cash flow capacity, enabling it to pay suppliers faster, obtain supplier discounts and meet its new orders.
The company no longer worries about accepting new orders, knowing that it has access to immediate liquidities.
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This company had designed a unique product for commercial application. The U.S. was their key target market. They were just entering into the commercialization stage after being involved in research and development for a number of years.
Since our inception, Camsa has been actively involved in giving back to our community - it’s something we feel is important and it is an integral part of our core values. Within the Halifax Region, we are proud to have provided support to numerous organizations.
As evidence of our commitment, in 2015 Camsa initiated our very own unique fund raiser to support local charitable initiatives. This fundraiser – Captains and Cooks will continue as an annual event.