Updated: 5th October 2019
We were contacted to assist a large engineering business to secure funding. With a turnover of £16m, the business specialised in metal fabrication and installation for the food and petrochemical sectors.
The company already had an existing Invoice Finance agreement in place; however, their provider gave notice of six weeks on the facility so it was vital that another lender was found quickly. It was at this stage that we were contacted and tasked with finding a new provider who would be able to step in before the company’s current financial agreement ended.
A new lender who was able to provide a suitable credit facility was identified, the application process was entered into and funding was secured.
We also provided a review of the company’s current debtor position and offered tailored advice and support. Furthermore, we are providing an ongoing credit control support service to the company to ensure same problems do not occur in the future.
13th January 2021
Retailers in the UK endured what was statistically their worst year on record in terms of sales growth during 2020.Read More
11th January 2021
As many as 250,000 small firms could close this year unless government action is taken to prevent such a scenario from happening.Read More