Chris and Jane run a successful branded beef business. They supply branded beef to a portfolio of domestic and overseas customers. Chris and Jane needed to supply 800 head per month to meet their customers’ needs with most of these cattle needing to be purchased from external suppliers. These cattle were then backgrounded and processed through toll processing plants and packaged into a retail ready format. Chris and Jane needed funding for 3 to 6 months to enable them to finish the livestock and also to provide coverage of the period post-processing where Chris and Jane had payment terms in place with their valued customers.
In December 2023 Legacy Livestock established a finance limit of $3.0M.
Over the following 3 months two things happened which required a significant step up in funding limits to $6.0M:
- cattle prices started to increase, especially in the category the client was operating in, and
- existing customers requested a significant increase in volume supplied due to the popularity of the Chris and Jane’s branded beef.
The new funding limit was quickly approved by Legacy Livestock enabling Chris and Jane to access large lines of cattle ideally suited to their branded beef program, resulting in significant growth in their business.
