Current state and problem
AQ's long-term goal is to expand its own brand's product portfolio. Among other things, they will open a new showroom in Brno this year. In order to implement its projects, the company needs to obtain sufficient financial resources.
AQ has grown in the 25 years of its existence to the point where it is no longer possible to finance it from just one source and it is necessary to find a suitable combination of several products. Since AQ exceeded the bank's credit limit for factoring, AQ decided to try out non-bank financing options and include them in its financial portfolio.
Proposed solution
AQ currently uses a combination of several financial services for its operational financing, which together can cover their needs. They continue to cooperate with Komerční banka, but they have decided to stop using their factoring. They have replaced it with Payment from Roger, which provides them with the necessary flexibility. They continue to use a bank overdraft and revolving credit to cover the deliveries of goods from China and Europe, and they also have an investment loan in place.
Resulting changes
“We used Komerční banka factoring for 5 years. We stopped using it due to long approval processes, contract change fees related to adding a new customer, problems with financing customers from Slovakia, and a low set limit. Payment from Roger solved these problems.“
How we helped
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