From Scrap To Success: Trader Achieved 50% Growth in 6 months with M1xchange

Client Overview

Driven by a strong dedication towards environmental care and sustainable practices, this scrap trading business specialises in sourcing fresh scrap from diverse organisations. They methodically process this collected scrap by bundling them using an 8*8 machine that finds its way to the esteemed clientele. With a strong emphasis on recycling and repurposing, they play a vital role in eco-friendly waste management while supplying valuable resources to industries. This way, they contribute to a greener and brighter future.

The Challenge

In pursuit of seamless operations, the business encountered extended payment cycles and delayed payments from corporate customers. This hindered their timely procurement of raw materials to meet other clients’ requirements. Consequently, they had to take loans that proved to be costly due to high interest rates, prolonged approval processes, and stringent eligibility criteria. Moreover, accounting for these debts in financial statements posed another challenge for the organization. Navigating through time-consuming physical procedures added further intricacies to their already complex financial management endeavours.

At A GLANCE Challenges

• Prolonged Payment Cycles And Delayed Payments From Corporates
• Difficulty In Timely Procurement Of Raw Material
• Loans With High-interest Rates
• Extended Approval Processes And Stringent Eligibility Criteria

To know how M1xchange helped the Scarp Trader, Click Here To Read More.