When DCI Electrical Services needed additional working capital to cover operating expenses and enable the delivery of new contracts, we were able to provide a solution.
DCI Electrical Services began in 2010, working on train line upgrades and solar installations. Since then, it has become an important player in construction and mining, delivering electrical, civil and plant hire services to multinational corporations in the resources sector.
In recent years, the business has adapted and evolved to offer additional services to its customers, to build resilience through market fluctuations.
“With the global downturn in mining, we were treading water, so we procured more plant and machinery to break into civil construction, and then moved into plant hire,” said John James Greene, DCI Electrical Services’ Managing Director and Owner.
After finishing a major project at the end of 2020, DCI Electrical Services quickly secured two new mining contracts. However, it needed finance to cover the cash flow gap until the first payment.
“At the front end of the job, there are a lot of expenses like mobilising, training and buying uniforms,” explained Vicki Moon, Admin Superintendent at DCI Electrical Services. “But in mining, you have to work a whole month before you can invoice, and then you wait for payment.”
The right financial support
When DCI Electrical Services’ line of credit facility with its bank was coming to maturity, the business needed to look for an alternative longer-term funding option to assist with growing contact demands and upfront operating costs.
“In one of our conversations, the bank mentioned Export Finance Australia,” explained Vicki.