With the backing of EFIC Headway and Westpac, Frosty Boy Australia assembled the working capital necessary to pursue export growth in its target markets.

Frosty Boy Australia – an iconic Queensland company that started with a fleet of ice cream vans in suburban Brisbane – sought EFIC’s assistance to accelerate sales of its soft serve ice cream and associated products in China, Canada and South Korea.

“We have a tremendous opportunity to export worldwide but it’s important to manage growth with smart financing and this is where an innovative financial product like EFIC Headway can help,” said André Van Rooyen, a Frosty Boy Australia business partner.

Already exporting to nearly 30 countries and strategically building for further international success, Frosty Boy deliberately incorporated excess operating capacity at its Loganholme factory, south of Brisbane, to enable its ambitious export campaign.

“With the additional working capital made available through the EFIC Headway facility, we can effectively enter new markets such as China where exponential generational change is taking place in consumer choices and tastes,” Mr Van Rooyen said.

EFIC Headway is a financial guarantee from EFIC to a participating bank, designed especially for small to medium-sized exporters to overcome the common problem of limited access to working capital.

Participating banks