News

C-Mac Co-operative Overdraft Facility Approved by CBA

Posted by Aaron Chen on

Co-operative Overdraft Facility Approved by CBAThis week, Commonwealth Bank of Australia (CBA) has approved the overdraft facility for the C-Mac Co-operative.

Jon Cunningham who is CBA Relationship Manager for C-Mac just personally handed over the documentation for signing.

This is very significant as the security is only on a floating charge over the business with no personnel guarantees. This facility was a challenge for the CBA as they were not familiar with "manufacturing worker co-operative" structures. The facility was approved based on the quality of C-Mac's management and the 50 year history of trading.

CBA have now given the co-operative community considerable encouragement, it has supported the 35 families at C-Mac with security of employment and an exciting future in manufacturing.

Please leave your comments below if you have any.

   
Click to share it or make comments below!

Subscribe to Email Updates

Subscribe to Email Updates

* C-Mac respects you and your privacy. We never spam you with unwanted advertisement and never share your emails with 3rd parties.
FacebookFacebook is C-Mac’s Company Notice Board for Staff, friends & Customers.

Recent Posts

Posts by Topic

Ask for a Quote
Onsite Consulting
72 - 74 Mandoon RD Girraween
Credit Cards