Due to the highly cost-intensive nature of the business, Eskay Wires Manufacturing Company was facing a shortage of working capital which hindered them from fulfilling their orders. Here are the top 3 challenges the company was facing in its quest to service its clients better:
- The company had exhausted the last of their credit limit with their existing banking partners. Engaging with a new banking partner at this juncture was extremely time-consuming, exhausting, and long-drawn process.
- Eskay Wires Manufacturing Company was in urgent need of expanding their operations and required immediate funding of Rs 50 lakh. This was right when the pandemic struck, and the company urgently needed working capital
- The company lacked an in-house financial expert who had the network to help the company secure the right deal.