Floor Tile Supplier Secures Line of Credit for Operations
A working capital line of credit from Neu Loans helped a Melbourne floor tile supplier close the gap between paying staff and getting paid by builders, without a fixed repayment schedule getting in the way.
Snapshot
- Industry: Building materials supply (supplies to builders)
- Location: Melbourne, VIC
- Time trading: 2+ years established
- Loan type: Line of credit
- Amount secured: $100,000
- Deposit: Nil deposit
- Turnaround: Approval within 24 hours
The Challenge
This Melbourne based floor tile supplier had been trading for over two years, supplying materials to builders across its patch. The business itself was solid, but the day to day reality of supplying builders meant staff wages needed to go out on time while outstanding invoices from customers sat unpaid for weeks at a time.
That gap between money going out and money coming in is common in building materials supply, where payment terms with builders can stretch well past the point where wages and running costs are due. The business needed a facility that could flex with that gap, rather than a single fixed loan.
The Solution
Neu Loans arranged a $100,000 line of credit, with no deposit required, giving the business access to funds as needed rather than one lump sum. Approval was granted within 24 hours, so the client could draw on the facility to cover wages and chase down outstanding invoices without the pressure of a fixed repayment schedule tied to a single drawdown.
The Result
The business secured a $100,000 line of credit, giving it the flexibility to pay staff on time and manage the gap between supplying builders and getting paid. With approval within 24 hours and no deposit required, working capital was in place fast enough to keep operations moving. With working capital sorted, the client could keep operations running smoothly without chasing cash every fortnight.
“We were chasing invoices with one hand and trying to make payroll with the other. Having a line of credit approved within a day, with no deposit, took that pressure off straight away.” — Tony, Owner, Melbourne Floor Tile Supplies
Turnaround times and loan outcomes are subject to individual circumstances and lender conditions, and may vary from case to case.
Why Building Materials Suppliers Choose Neu Loans for Working Capital
Suppliers to the building industry often carry the gap between paying staff and suppliers now, and getting paid by builders later. Neu Loans works with building materials suppliers across Melbourne and Australia to structure working capital finance around real payment terms, not just a standard lending checklist. See our Line of Credit options, or read how we help building suppliers specifically.
Need working capital to cover wages, invoices, or day to day running costs? Get a free online quote or talk to our team about line of credit options for your business. Ready to move forward? Apply now.
Frequently Asked Questions
What is a line of credit for building materials suppliers?
A line of credit is a flexible business finance facility that gives suppliers access to funds as needed, rather than one lump sum with a fixed repayment schedule. It suits building materials suppliers because it can flex with the gap between paying staff and running costs now and getting paid by builders later, letting the business draw on funds to cover wages or chase outstanding invoices as required.
Can I get a line of credit with no deposit?
Yes, nil deposit line of credit facilities are available through some lenders, though approval and terms depend on individual circumstances such as time trading, cash flow, and credit history. Because a line of credit is typically an ongoing facility rather than a single asset purchase, a deposit is not always a standard requirement, but this varies by lender and business profile.
How long does approval take for a business line of credit?
Approval timeframes vary by lender and individual circumstances. In this case study, a Melbourne based floor tile supplier received approval within 24 hours, though turnaround can differ depending on documentation, business trading history, and the lender’s assessment process at the time of application.
Related Reading
Ready to Sort Your Working Capital?
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This case study reflects one client’s experience. Finance approval, loan amount, and structure depend on individual circumstances and lender criteria.