Directors of a Melbourne importer have put their company into administration after what they claim was a loan fraud left their company critically short of working capital.Style Ltd, which imports floor coverings from China, formalised a A$1.3 million working capital facility with a number of parties earlier this year.In a statement to the Australian Securities Exchange, on April 20, the company said: "The signed significant contribution from an overseas lender has been fraudulent and the company has referred this matter to the Australian Federal Police."On April 30, the company announced that it had not been successful in raising new capital and had appointed Pitcher Partners to administer the company.Style had reported a loss for the December half-year, adding to substantial accumulated losses. Current liabilities exceeded current liabilities at the end of the reporting period.The auditor's report said: "These conditions indicate the existence of a material uncertainty which may cast significant doubt about the consolidated entity's ability to continue as a going concern."Pitcher Partners' partner, Gess Rambaldi, said he was not able to comment on the fraud claim.Rambaldi said such a case was unusual, but he and his partners were seeing more companies looking for funding from unusual sources as conventional funding became more difficult to tap."Bank funding is not as easy to obtain as it was a few years ago, particularly if it is cash-flow type lending," he said. "We hear from a lot of companies that have had facilities reduced or withdrawn. Companies have no choice but to go looking for money from alternative sources."