When Nomad Design Tackle had an opportunity to supply to one of the biggest fishing retailers in the US, we saw their growth potential and provided finance to help deliver their contract.
In 2002, Damon Olsen and his family launched a sportfishing operation in Queensland. A few years later, Damon, a trained civil engineer, designed a range of niche tackle products to solve problems he’d experienced on fishing trips. The family set up an online retail and distribution business to sell the range: Nomad Design Tackle.
After successfully exporting their tackle products to markets around the world including New Zealand, South Africa and South East Asia, Nomad Design Tackle caught the attention of Bass Pro, the biggest fishing retailer in the US.
Damon’s wife, Claire Gobe, said while the contract was a great opportunity for them, they needed a solution to finance their forward orders and were unable to secure it from their bank.
“We ended up with Bass Pro and rep groups signed up and organised before we had any stock over there,” she said.