Export finance help now available for first time exporters
Have you secured your first export contract? Do you need export finance to help deliver on it? Efic can help first time exporters with a range of loans, guarantees and bonds when your bank is unable to provide assistance.
Energy management company COzero secured its first export contract with Japan’s largest non-government electricity provider.
“It was a very intensive process. We needed to resource it quite heavily, including time and staff travelling to Japan. It took three years,” says Geoff Alexander, CEO of COzero.
Competing with two other global companies, COzero was successful in securing its first export contract. “We will be providing our energy management platform, EnergyLink. It has been tailored for the Japanese,” says Geoff.
With long project timelines and the challenge of managing business cashflow, COzero needed a cashflow injection to ensure it met the milestones of the project. Unable to secure the funding needed for the contract from their bank, their advisor recommended they get in touch with Efic.
Efic was able to provide the business with an Export Contract Loan that allowed it to continue to deliver the project milestones of its first export contract.
“There are a lot of development costs on our side to ensure that we integrate with our export customer. The funds from Efic have enabled us to meet our milestones as we deliver on our contract. It has been incredibly important,” says Geoff.
If you’re a first time exporter and need access to working capital to help secure or deliver on your export contract, contact Efic to find out if they can provide support– www.efic.gov.au or call on 1800 093 724.