We helped PolySoft continue to fulfil their long-term customer contracts despite business disruptions caused by COVID-19.
PolySoft manufactures and distributes safety-flooring systems, used in wet areas like water parks and aquatic centres, and dry areas like playgrounds. Its innovative product was developed in Australia by Australian scientists. But about 80 per cent of its business comes from overseas customers, particularly the Middle East.
Managing Director Ophelia Zhu says that the outbreak of COVID-19 has not only prevented her from travelling to expand the company’s markets but has also seen several significant projects delayed.
“Every facet of our business has been affected by the pandemic,” said Ophelia. “Logistics have also been a huge challenge, with increased freight costs and delayed delivery times, and our supply chain has been interrupted.”
After some established customers asked for longer payment terms on large contracts, PolySoft approached Export Finance Australia to help them cover their cashflow gap.
“We’d already had a conversation with Export Finance Australia a few years ago, for a previous project,” said Ophelia. “Then we read about the COVID-19 Export Capital Facility in an email and decided to find out more.”