Provident Inventory Finance has launched an inventory funding product for Australia’s shop and office fitting industry. Through financing the purchase of stock, inventory finance can now give manufacturers and wholesales of fit-out products, as well as fit-out contractors, the freedom to grow beyond the constraints of their current working capital.

“From furniture and flooring manufactures to shelving and shopfitting suppliers, fit-out businesses across Australia will find inventory finance perfect for funding their growth and closing the cash flow gap” says Matthew Nolan, managing director of Provident Inventory Finance.

Inventory finance is available without any requirement for real estate security and there is no requirement for evidence of pre-sales or pre-signed contracts.

“We recognise the constraints that cash flow tied up in stock and supplies prior to and during the fit-out process can place on a supplier or contractor,” says Nolan.

“With swift approval, manufacturers, wholesalers and contractors across the fit-out industry can quickly benefit from improved relationships with suppliers by paying upfront for their stock with inventory finance. They may also access bulk discounts, early payment discounts and reduced freight costs.”

Inventory finance can be used to fund the purchase of stock and freight costs, from both Australian and overseas suppliers.

“This gives fit-out businesses additional flexibility when meeting consumers’ demands,” says Nolan. “For example, a contractor can source fit-out materials well in advance and avoid hold ups by using inventory finance to purchase stock, repaying the loan once the stock has been sold.

“This is particularly useful when ordering custom made or specialised goods that may require more significant lead time before being delivered,” he adds.

Clients also retain the title to their stock, giving them access to it when and how they choose, and allowing them to extend their payment terms till they receive the proceeds of a sale through their normal business trading.