Our Export Line of Credit is helping Rathbone Wine Group continue to share its passion for wine with the world.
Family-owned Rathbone Wine Group has built a strong brand domestically and overseas. With wineries in the Yarra Valley, Grampian and Margaret River, the business is passionate about sharing quality Australian wine with the world.
Patrick Sin, their Chief Financial Officer, says about half of their business comes from exporting to countries in Europe, USA and Asia including China.
Rathbone Wine Group has invested considerable time and energy in building up strong, long-term relationships with partners in each country. Their biggest challenge is one that impacts all winemakers exporting overseas.
“We have an incredibly long working capital cycle,” Patrick explained. “It’s a very long lead time from planting and harvesting and then maturing the wine to exporting and selling the wine and finally being paid.”
Freeing up working capital
Patrick found out about Export Finance Australia through Google, while looking for finance options to help cover their working capital costs. After contacting us, Patrick worked with our team who determined the business was eligible to apply for a credit facility.
After a successful application process, Rathbone Wine Group was able to access a $1.75m Export Line of Credit. Patrick says it has been critical in that it takes the pressure off their working capital.
“To grow and sustain our business, we need to be selling wines while we are growing fruit for our next vintage,” Patrick said.
“We also need to buy additional fruit from other growers at the same time. Having access to finance means both ourselves and the growers have assurance of payments as per agreement, and help us all to have a better focus on our day to day operation.”
Patrick said he was impressed with how responsive Export Finance Australia was in understanding Rathbone Wine Group’s financing requirements.