The business offers a variety of specialised services including static security, concierge security, private security, event security, high risk security, building management and surveillance. They have been providing security services to the hospitality industry for the past 20 years, including door hosts for local pubs right through to five star hotels. In addition, they provide a variety of premium corporate security services to suit the needs of any business.
Cash flow is an issue for most security businesses. It is very labour intensive, with staff having to be paid weekly and clients paying after 30 and sometimes 60 days.
As owner David explained “Working Capital is vital in our business, without it we simply couldn’t build our business. Right from the start we were simply growing too fast and we didn’t have the cash to fund that growth.”
“Initially we spoke to the banks but what they could offer didn’t suit our needs. It was at that time that a client of ours recommended Cash Resources and we had heard their radio advertising,” he said.
I didn’t know much about Debtor Finance and John Saliba came to meet us and explained how it works and the facility was put in place in a few days.
“As we invoiced our clients we would send copies to Cash Resources and they pay us 80% of the value of those invoices within 24 hours. It was perfect for our needs.
The facility can grow as we grow. There are no locked in contracts. Its just so flexible,” he said.
“We’re over the moon about the service provided by Cash Resources Australia. They understand our business as well as we do. You can ring them any time of the day, we have a great working relationship with John and Bridgett.”
“As a result of this facility, we can confidently chase new business knowing we have the cash to fund personnel required. I wouldn’t be where I am today without Cash Resources,” he said.
The company’s turnover now exceeds $10 million and they have clients in New South Wales, Queensland and Victoria.