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Alessandro Nestra, CEO of Veneno Technologies (not the real name of our client), was in a fix.
His company had a happy problem. It enjoyed unprecedented growth in the last few months, topped off by a recent sizeable order worth US$700,000 from a global client.
The founder of Veneno Technologies, which specialises in manufacturing and distributing automation system, Mr Nestra and his team of 23 staff serve more than 35 business clients across the Asia Pacific region.
Established in Singapore since 2001, Veneno Technologies is also the sole-distributor of highly specialised European pneumatic devices. These unique equipment help to lift, rotate and handle products under complete weightless condition and safety.
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Rejected by Banker and other Financiers
With dozens of orders to fulfil on a daily basis, Veneno Technologies needed to ensure that their clients receive their highly specialised goods in quick time. They also needed to pay their overseas suppliers on time.
Coupled with the recent large contract signed with a key client from Vietnam, Mr Nestra needed a temporary infusion of cash as working capital. He sought immediate assistance for a pre-qualified short-term loan and an increase in trade facilities from the company’s principal banker to ease the company’s cash flow situation.
Unfortunately, Mr Nestra hit a wall. After a few weeks, his banker turned down his company’s request for both the short-term loan and increase in trade facilities.
To make matters worse, the negative situation repeated itself when he sought the help of several other financiers. Meanwhile, payment deadlines to its overseas suppliers loom near and large.
That was when he approached Gremio Capital.
In-principal Loan Approval within Hours
With Gremio Capital’s ability to process short-term loan applications in lightning quick speed, Mr Nestra was able to move fast enough to meet the razor-tight delivery timelines demanded by Veneno’s clients while settling payment to their overseas suppliers.
Within hours of being approached, Gremio Capital provided an in-principal loan approval of S$200,000 for a period of 6 months to Veneno Technologies. Once the required documentation was submitted, Veneno Technologies obtained their much needed short-term loan within 3 working days.
Thanks to Gremio Capital, Mr Nestra was able to pay his company’s overseas supplier without delay.
The business loan from Gremio Capital also allowed Veneno Technologies to free up its cash flow. This enabled the company to galvanise its resources, allowing it to focus on fulfilling its day-to-day orders while seizing emerging opportunities to expand and grow its business.
“I have not met any banker who understands the distribution and logistics industry. Gremio Capital not only understands what we do, their super-quick, transparent and flexible business loan with no long term contracts or hidden fees was specially designed to meet the needs of the fast paced business environment we are in.”
Alessandro Nestra, CEO of Veneno Technologies
Information posted is based on actual case. Client’s identity, person’s image and references were changed to maintain confidentiality. |