Facilitating Bison Group Limited's Market Expansion to the USA

Bison Group Limited (Bison), a proud Kiwi exporter, is a trailblazer in container weighing and lifting technology and sought to expand its footprint to the competitive market of the USA. To propel their growth and manage the challenges of scaling operations overseas, Bison required access to additional working capital.

The Challenge: Scaling up production and managing a supply chain across the globe to meet the demand from the USA market posed a significant financial challenge. To meet this challenge, Bison needed to secure additional access to capital that would support their ambitious export strategy.

The Solution: A key referral from Damian O'Neill at New Zealand Trade and Enterprise (NZTE) allowed Bison to tap into the Streamlined IGF Working Capital initiative offered by New Zealand Export Credit (NZEC). 

Under this initiative NZEC provides a 80% guarantee to an exporter’s bank for an increase in their working capital facility, enabling exporters to deliver on their export growth plans. It is a streamlined process because NZEC leverages the due diligence of NZTE when exporters are successful in receiving their International Growth Fund grant and secondly comfort is drawn from the participation and due diligence of its banking partners. 

The result was Bank of New Zealand (BNZ) offering a $1 million trade finance facility to Bison, supported by an 80% guarantee from NZEC.

"Our initiative is all about enabling businesses like Bison to reach their potential on the global stage, therefore one of the most important things we do is assisting them accessing additional financing to fund their exporting activities. We often find that ambitious companies face difficulties in accessing financing, which limits their ability to enter new markets or accept large purchase orders with lengthy payment terms. This transaction with Bison is a good example of how this initiative can benefit New Zealand exporters”

"The support from NZEC and BNZ has been pivotal in our expansion. It gave us the immediate boost needed to scale up and meet the stringent demands of our US customers promptly"

"Supporting local businesses to succeed on a global stage is a priority for BNZ. The collaboration with NZEC was a perfect example of how joint efforts can effectively back the ambitions of companies like Bison"

With the support from New Zealand Export Credit:

Bison is successfully delivering in the USA market. The trade facility translated into expanded operations, increased market share, and a stronger international presence, showcasing the company's innovative solutions on a global stage.

"New Zealand Trade and Enterprise is responsible for helping Kiwi companies grow and succeed internationally. To do this companies often require financial support structures and we work closely with New Zealand Export Credit to achieve this. Bison's successful American expansion exemplifies what Kiwi companies can accomplish with the right backing from strong government agency partnerships."