Efic: Specialist Financing Solutions for Australian Companies
Efic is a specialist financier owned by the Australian Government, providing creative financing solutions to help Australian companies succeed globally. They offer various financial instruments like bonds, guarantees, and loans to assist companies in winning contracts and expanding internationally. Efic supports SMEs with a trading history of at least two years and a funding requirement of at least $100k. Case studies highlight how Efic has supported companies like Marand Precision Engineering, GCo Electrical, and Precision Mining Camps and Services in securing contracts and fulfilling their obligations through financial assistance.
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FINANCING YOUR NEXT CONTRACT The Efic Option June 2015
Who is Efic? A specialist financier that delivers simple and creative solutions for Australian companies to enable them to win business, grow internationally and achieve export success. 100% owned by the Government of Australia (AAA rating) Fills market gap when commercial finance unavailable/insufficient Role complementary to commercial lenders Customers range from SMEs to large listed companies 2
How does Efic assist ? TRADITIONAL EXPORTERS COMPANIES EXPANDING OFFSHORE COMPANIES INVOLVED IN GLOBAL SUPPLY CHAINS Bonds Working Capital Guarantees Term Debt Direct Loans Bonds Direct loans Working Capital Guarantees Term Debt Guarantees to support Australian companies establish operations overseas
Who can we support - Guidelines Australian SMEs with at least two years trading history Some performance track record Needs at least $100k in funding Australian content 4
Case study Marand Precision Engineering Industry: Country: Product: Efic support: A$10.7 million Manufacturing Australian companies in a global supply chain Performance and warranty bond Customer: Marand is a leading global supplier of precision engineering solutions to the mining, automotive, aerospace, defence and rail industries. Need: Marand needed to provide performance and warranty bonds to support new contracts with BHP Billiton Iron Ore and Hamersley Iron Ore. Result: Our bonding line covered Marand s contractual obligations and allowed it to secure these two important contracts.
Case study GCo Electrical Industry: Country: Product: Efic support: $900,000 Mining and mining services Australia Warranty bond Customer: GCo is an electrical contractor that specialises in industrial contracting, electrical infrastructure, ongoing maintenance services and labour hire. Need: GCo needed to supply warranty bonds for its contract with Karara Mining, which will produce magnetite iron ore for export. Result: Our warranty bonds covered GCo s contractual obligations, helping it deliver on one of its biggest projects.
Case study Precision Mining Camps and Services Industry: Country: Product: Efic support: A$1.5 million Construction Australia Export working capital guarantee Customer: Precision is a privately-owned company that provides accommodation and services for remote workforces in the resources, and oil & gas industries. Need: Precision needed additional working capital to build administration and control buildings for the operation of the Roy Hill mine. Result: Our export working capital guarantee allowed Precision s bank to approve the funding Precision needed to deliver on this contract. 7
Case study FIRM Construction Industry: Country: Product: Efic support: $5 million Construction Australia Bond facility Customer: FIRM is a commercial construction contractor in the government, commercial, industrial, rail and mining sectors. Need: FIRM needed to supply a bond to support a contract to supply new facilities to a German mining machine manufacturer. Result: After a referral from FIRM s bank, our bond facility helped to support this project and other mining-related contracts.
Three reasons to work with Efic We can go further than your banks by backing your performance. We issue bonds for eligible contracts with less cash security than the banks Our finance support enables your company to grow to the next level
Who to contact ? Leela Hanson State Director for SME WA, SA and NT Phone: 08 9325-7872 Email: lhanson@efic.gov.au Tegan Davies Associate Director for SME WA Phone: 08 6365-4102 Email: tdavies@efic.gov.au
Disclaimer This material (Information) has been prepared by Efic for information purposes only. It is in summary form and is therefore not necessarily complete. It is not an offer by Efic to make available to any party any of the financial products referred to in the Information (Products) and the Information must not, in any way, be construed as specific or general advice in respect of any Products. A person or entity should seek their own advice as to the suitability of any Products for their own financial or tax circumstances. Whilst reasonable care has been taken to ensure that the Information is not untrue or misleading, no representation is made as to its accuracy or completeness and no liability is accepted for any loss arising from reliance upon the Information. In accordance with applicable exemptions, Efic is not required to hold an Australian financial services licence nor is it regulated by the Australian Prudential Regulation Authority in connection with any of the Products.
