An accountant sought assistance for his client, who operated an established child care facility. These are bulk funded by the Ministry of Education (MoE) with three lump sum payments throughout the year. Cash flow can be uneven due to payments being determined by the previous year’s attendance. The operator owned the land and building freehold, but was having difficulty explaining the bulk funding arrangements to his bank manager. Auckland Finance provided a working capital advance that was repaid in full over 12 months, with the repayments coinciding with the MoE bulk funding payments.
Working Capital Advances
