Finance is essential when operating in the mining and resources sectors. This need is especially critical for businesses that provide mining and construction services to support large projects, where access to finance can determine success in securing contracts.
Export Finance Australia provides flexible finance solutions that help enable Australian mining equipment and technology services businesses to secure major mining contracts.
As Australia’s export credit agency, Export Finance Australia’s role is to support Australian exports. If your business does not directly export goods or services, you may still qualify for support if you’re part of an export supply chain. This includes supplying products and services to a business that exports the final product or subcontracting to support a mining project involved in export.
Export Finance Australia’s bonds, guarantees and loans support Australian businesses with a range of needs, such as providing security to take on contracts and scale operations to deliver projects, plus much more.
Having helped many businesses, like Streamline Connect, to protect their cash flow and mobilise large projects, Export Finance Australia could support your business in doing the same.
Supporting Streamline Connect’s expansion
Streamline Connect, a Perth-based provider of turn-key telecommunications infrastructure solutions, offers essential services to the mining industry, including fibre installation, site civil works and network commissioning and integration.
“As a small to medium-sized business, getting to the table can be challenging,” Streamline Connect director Tony Farrell said. “We’re at the table now, but it has taken some years to get there, and when tendering on a large contract, being able to demonstrate competence is really important.”
After being introduced to Export Finance Australia by its bank, Streamline Connect discovered a valuable ally in securing contracts.
“Since we do extensive work with Australian-based mining companies that eventually export, we qualified as part of an export supply chain for funding from Export Finance Australia, even though we’re not exporting or currently operating overseas,” Farrell said.
“The finance from Export Finance Australia was a big support. Protecting cash flow while mobilising larger projects was a significant risk and area of uncertainty for us, and Export Finance Australia’s support helped materially.”
Finance to secure more contracts and expand your business
Export Finance Australia works with banks, other government agencies, and partners to provide solutions that enable Australian businesses to pursue export-related opportunities.
If your business requires additional finance to secure large contracts like Streamline Connect or simply free up cash flow, Export Finance Australia is here to help.
Export Finance Australia solutions include:
- Bonds: Often a prerequisite for large contracts, bonds are essential for meeting the security requirements of larger mining contracts. Export Finance Australia can issue the bond directly to your buyer or support a bank-issued bond. Types of bonds include advance payment, performance, warranty, and US surety bonds.
- Guarantees: These are issued to your bank to help your business access additional finance, providing the necessary backing to secure funding for export-related transactions.
- Export contract loans: These loans support your cash flow, up-front mobilisation, and material costs needed to fulfil specific contract obligations.
- Export lines of credit: Flexible credit lines that can be redrawn and repaid multiple times during the loan availability period across one or multiple contracts.
Ready to expand your business?
Speak to Export Finance Australia today to discuss how the agency could help your business secure large contracts and expand or visit Export Finance Australia’s website to learn more about the support available for the mining and construction industry and its supply chain.
Contact 1800 093 724 or visit exportfinance.gov.au/supplychain for more information.