ProfitShare Partners is proud to partner with GPWG Engineering because this firm is a sterling example of how SMEs can grow with the right passions driving it and funding support to back it.
Initially established as MBHM Engineering & IT Services cc in 2012, GPWG Engineering (GPWG) was converted into a private company in 2017. GPWG is a multi-disciplinary engineering firm with interests in consulting and contracting civil, electrical and mechanical maintenance work. Through its professional team of dedicated experts, the company has created an organisation that prides itself on supplying cost-effective and detailed solutions in all disciplines of engineering.
Like many small and medium enterprises in South Africa, GPWG Engineering showed excellent potential for clients seeking solutions that not only offered high-quality services but also delivered sustainable, environmentally-friendly solutions. However, when a state-owned power utility company awarded GPWG the opportunity to deliver equipment and maintenance requirements, the inevitable cash flow challenge posed a risk for the SME to deliver optimally on the order.
As is the case with many orders of this nature, time was a critical factor for the company to acquire and deliver on their contract. GPWG Engineering approached traditional and non-traditional financial providers but could not secure the funding required to meet its obligation. In most instances, such a challenge could be the start and end of any business.
“The bank was my first option however, their evaluation on my company’s risk profile was too high. I also tried other companies including SEFA that do similar transaction funding, but time was a huge factor for me. ProfitShare Partners was able to assist me in delivering my projects on time and to completion without affecting my cash flow. I will definitely use ProfitShare Partners again – I have a few deals coming up in the near future,” said Bornface Mboma, Director at GPWG Engineering.
Partnering with the disruptive funder unlocked a number of opportunities for the firm to grow and turn around more orders from the power utility. ProfitShare Partners has funded numerous transactions for GPWG to deliver on time and on specification, including more transformers, maintenance orders and more recently, the building and maintenance of a lime plant. With ProfitShare Partners, the SME has grown from a R1 million per annum business to over R20 million turnover per annum in just three years.
‘Our business model is counterintuitive – we grow our clients to lose them because when they become bankable, we’ve achieved our goal,’ says Andrew Maren, CEO of ProfitShare Partners.
ProfitShare Partners offers a fast, straightforward funding solution for small businesses with valid purchase orders or contracts from reputable corporate and government entities. With a 24-hour deal confirmation, 48-hour term sheetand 7-day pay out, the funder partners with the SME on their transaction, securing the small business against cash flow risks and reassuring corporate and government entities of performance delivery on time, every time.