Flexible cashflow helps busy pharmacy stay stocked
Thriving Brisbane pharmacy Civic Fair needed to quickly double its stock levels to meet the higher demand of 60-day dispensing, but the extra upfront costs were eating into cashflow and creating risks. With traditional lenders unable to help, Civic Fair found that TradeBridge offered owner Bob, a simple, flexible way to stay fully stocked and keep his customers satisfied.
Industry
Pharmacy
Facility limit
$200k
Use of funds
Stock
Civic Fair Pharmacy
Community pharmacy
Founded 2004
Seasoned pharmacist Bob Harries has grown his Brisbane pharmacy into a thriving business over the past 20 years. In a prime, well-connected shopping centre location in the city’s southern suburb of Wishart, he has built impressive, consistent growth each year by keeping pace with a changing market and steadily expanding his scope of practice.
When 60-day dispensing saw customer demand potentially double for many popular drugs, Bob quickly needed extra cashflow to buy twice the amount of stock. With limited storage space, he also needed instant, flexible access to funds so he could top up his stock levels every day and mitigate risk by paying his wholesaler upfront every time.
Bob knew he wouldn’t get any help from his bank, so when he opened an email from TradeBridge, the timing was perfect. Not knowing much about us, he naturally had a few reservations, but once he learned that one of our satisfied customers is former Pharmacy Guild of Australia national president George Tambassis, he was keen to find out more.
After a simple application, Bob was quickly set up on our online portal and has used the facility to cover stock orders for the past year. Now he can focus on what he does best - growing his business. With plans for a refit and modernisation, new services and extra staff, the future looks bright for this established community favourite.
“After our first conversation, I felt that TradeBridge really understood my business. They know the challenges that pharmacies face and the things that are holding back the sector.”
Bob Harries, Owner, Civic Fair Pharmacy
Their challenge
With 38 years in the business, Bob has been growing Civic Fair Pharmacy successfully for two decades, but when he suddenly needed to double his stock orders, he knew his cashflow would fall short. With traditional lenders unsupportive, he needed a finance partner who understood his business and could respond quickly to his needs.
When Bob learned that we’re pharmacy specialists who understand PBS payments, offer more funding than other lenders and give him complete control of drawdowns and repayments, while moving much faster than banks, he knew he’d found the answer.
See how you can get funding today by completing this short form.
Our solution
As experienced specialists in the sector, we’ve designed a finance facility specifically for pharmacies based on your PBS income. We offer more funding than other lenders (up to ten times your weekly PBS receipts), transparent fees and a simple, streamlined application – so you get a decision and a funding limit in days, not months.
This meant we could quickly offer Bob a flexible credit facility to help him take control of his cashflow and be fully stocked for every customer demand. With the security of only having to pay for what he uses, he can now draw down cash whenever he needs it and use it for anything –cashflow, stock orders, refits or even acquisitions.
- More funding than other lenders
(up to 10X weekly PBS income) - Pharmacy specialists who understand
your business - Quick decisions so you can move at pace
- Flexible credit line with no set repayments
- Only pay for the finance you use
“I don’t have the space to store lots of stock. Having this extra capital on hand means I never get caught short for cashflow, so I can make big orders whenever I need to.”
Bob Harries, Owner, Civic Fair Pharmacy
Ready to talk?
Find out how an TradeBridge facility can help you achieve your ambitions
Call: +61 403 701 584
or email: dan@tradebridge.com
