Funding Secured for Engineering in Tight Time Frame
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 Problem
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.
The Solution
A new lender who was able to provide a suitable credit facility was identified, the application process was entered into and funding was secured.
The Result
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.
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