Case study
Bryce Traffic Solutions takes on NZ highways
Challenge: Bryce Traffic Solutions is a young company balancing different financial needs, including making capital investments to keep the business growing.
Situation: The company needs to ensure there is a sufficient pool of liquidity for it to tap into whenever the need arises.
Solution: Lock Finance’s factoring product meets the company’s requirement for a hassle-free way to raise cash at competitive rates.
Lyndon Bryce is a man on a mission. With 15 years in the traffic safety solutions industry he started his own company last November. Bryce has set his sights on developing his company into a multi-million dollar business with a family touch.
“This business is all about safety. All our staff have completed a first aid course. We are also working on getting ISO9000 accreditation so we can bid for bigger jobs,” he says. “A good reputation and reliability are essential.”
Bryce’s company has been exceeding its financial goals and is set for increased growth. The large number of infrastructure projects is providing a solid stream of work for Bryce Traffic Solutions. Amongst these is the roll-out of the multi-billion dollar national fibre optic network and the link road between Highways 20 and16.
Bryce says using Lock Finance’s factoring facility has enabled him to build up a pool of cash that he can use when the need arises. “The facility is fantastic and I recommend it to every young company seeking to build their business.”
He says that although there is an administrative charge for using the factoring facility, the rates are competitive compared to traditional overdrafts.
For more information about Bryce Traffic Solutions Ltd call (09) 274 0132.