TTG Transportation Technology (TTG) is a train technology development company that specalises in energy optimization software that focuses on fuel consumption efficiency and timetable achievement.
After winning the tender to provide hardware design and installation, project management, support and maintenance in UK’s First Rail Holdings inter-urban train, TTG needed to buy raw materials and fund manufacture and installation costs.
We were introduced to TTG after it discussed its business plans and contract financing requirements with Trade and Investment NSW.
We provided a £379,000 Export Working Capital Guarantee to TTG’s bank, Westpac, enabling it to lend the funds TTG needed to deliver on its contract.
Efic’s Andrew Watson explains, “To obtain funds from a bank, an SME is usually required to provide full cash collateral to secure the loan.”
“This is where we can help. While many SMEs are capable of delivering on major international contracts, the offshore buyer’s demand for guarantees can be a barrier to their success.”