Efic’s Export Contract Loan helped natural Australian essential oils producer Down Under Enterprises grow its export business by 91%.
Along with a number of long-term contracts with US customers for tea tree oil, Down Under has worked with a Western Australian company to launch a new bio-active ingredient, which is extracted from the seed of the West Australian sandalwood tree.
In order to fulfil its ongoing supply requirements and meet orders for this new product, Down Under needed additional capital to pay suppliers and finance shipping, given it can take up to three months for products to reach its US warehouse.
Efic provided Down Under with a A$200,000 Export Contract Loan, which gave it the additional working capital it needed to expand and fulfil its ongoing supply arrangements.
How can Efic help you achieve export success?
We have a long history of successfully helping Australian small business exporters, and those in export supply chains, build their businesses overseas through products like:
Small Business Export Loan, an unsecured loan of up to $250K with an easy online application designed specifically for small business exporters needing finance to support a single export contract
Export Contract Loan, where Efic provides a loan to support a specific export contract, or multiple export contracts with different buyers
Export Working Capital Guarantee, where Efic provides a guarantee to your company’s bank if your company doesn’t have the assets that your bank requires as security to approve further working capital for an export contract
Bonding Facilities, including bonding lines and contract-specific bonds, that are used if your company’s bank can’t support the total bonding requirements for a specific project
Overseas Direct Investment Guarantee, where Efic provides a guarantee to an Australian bank so that the bank can approve the funding needed for your company to expand overseas.
Through our loans, guarantees, bonds and insurance products, we’ve helped many Australian exporters and subcontractors take advantage of new contract opportunities that may otherwise have been out of reach.