Industrial based Fabrication business which has developed a new piece of equipment to be supplied to the timber/wood industries. We are currently committed to our first clientare and almost finished with this first new piece of equipment scheduled to come on line before Jan 1st 2023. We needing a cash injection to help us get us to the finish line for completing the project asap, so we can get it on the market. We will complete it by January 1st but the sooner the better hence the need for cash right now so we can market this unit. Client does have a retainer in place of 275k but we cannot collect that cash until we are online. This is part of our problem as the development costed more than what we expected due to the Covid crash. The project was actually in development in 2020 then we obtained a contract to begin production in January 21. Covid hit, materials became harder to obtain and costed more thus stretching our cash. We need this cash so we can complete the project sooner. Once completed this piece of equipment is our calling card to other clients in that same industry which are waiting to see this unit online. Thus once this units online and producing new orders will be forth coming.
Ready to Ask For Funding for your company?
Post a Funding Request