Press Releases (Archived)

Major banking group arrives in Northern Ireland

30 March 2007

Close Invoice Finance today announced its arrival to the Northern Ireland receivables market, offering businesses unprecedented levels of funding that will have an immediate impact on their cash flow.

Part of Close Brothers plc – the FTSE 250 merchant banking group headquartered in London - Close Invoice Finance will offer organisations, largely SMEs, a highly flexible form of funding with prepayments up to 95 per cent, a level matched by no other provider in the market!

Headed up by managing director, Harry Parkinson, who has over 20 years local experience in the industry, Close Invoice Finance specialises in bespoke cash management solutions.

“The Northern Ireland economy is expanding and we see great opportunities for growth with a business centred service that looks at individual client needs and tailors a solution accordingly,” he said. “Our business is all about getting to know other peoples businesses and finding out how we can help their productivity and growth.

“We understand how businesses are run and the risks they take and we specialise in getting alongside companies and putting the finance in place that can ease those sleepless nights.

“This is an exciting time to be in Northern Ireland; we recognise the evolving cash flow needs of the growing local SME base and our technology is regularly reviewed and improved to take account of this.

“For example, Close Invoice Finance now boasts an innovative online discounting facility, again unique to the market. It’s a paperless, web management tool; the sales ledger is transferred via a secure electronic link, enabling clients to remit payments quickly, simply and cost-effectively.

“In short we will remove all the hassle associated with the day-to-day operations of invoice financing, allowing clients to get on with what’s really important – developing their business.”

Despite these novel techniques, Mr Parkinson points out that clients still retain ultimate control over their sales ledger and customer relationships.

“Our philosophy is that clients deserve a personalised service and – regardless of turnover, number of employees or years trading – they will at all times have direct access to the company’s decision-makers,” said Mr Parkinson.

Indeed a decision on a request for finance is made locally and swiftly, often on the same day.

Close Invoice Finance is fully operational from April 2 at its Belfast city centre premises.

The business will initially employ 5, rising to 12 over the next two years. It is supported by Close operations in Brighton and Newbury as well as Close Brothers plc based in The City.

Issued by Carlton Baxter Communications on behalf of Close Invoice Finance

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