Business World International is a global publishing company which produces business-to-business online magazines in North America, Australia and Africa. The company’s largest presence is in Australia, where the mining and construction industries played a huge role in its success. When the recession hit, both of these industries were hit hard, and the company’s advertising sales started to become stagnant. Customers who were advertising requested extensions on invoice payments, leaving Business World International strapped for cash. Though invoices were due within 15 days, average collections time averaged between 55 and 60 days.
The company is headquartered in Canada, yet the majority of its revenue comes from Australia. This, combined with the fact that the company was relatively young, made obtaining a traditional loan nearly impossible. Business World International knew it was imperative to find a financing partner with a global reach.