Industry: Printing
Product: IDeal™ with Liquidity Plus
Facility size: £1.25 million
This well-established printing company has been historically profitable but recently faced some challenges. Following a period of more difficult trading, a new invoice finance provider was sought.
Having already secured a refinancing product with our asset finance team, the steady relationship they had developed led them to approach Close Brothers Invoice Finance too.
Initially, it was vital to establish if providing further funding was viable. By working closely with the management team, we were able to base a decision on more than just the most recent sales figures and understand the company’s day-to-day work, goals and challenges.
On speaking to the owners and looking at the accounts, it was evident that a constructive and sensible business plan was being implemented, including achievable sales forecasts and appropriate cost efficiencies where possible. It was also clear that the business had a strong and knowledgeable leadership team, and that current pressures were under control. This allowed our invoice finance experts to be confident that a financial solution could be well managed.
Close Brothers were keen to assist the SME during their turnaround period, and invoice finance could provide the support they needed to thrive. Through an invoice discounting facility combined with Liquidity Plus to overcome peak cash flow demands, we were able to give the firm the immediate cash injection that they needed to succeed.
