Industry: Transport and haulage
Product: Invoice discounting with Liquidity Plus
Established for over 30 years, this haulage firm is an independent local transport company which is part of a national transport & distribution network. It is a large company and has a good reputation within the industry.
The business has been historically profitable, however is now forecasting a loss due to the recent termination and downturn of key accounts along with an increase in overheads.
The future of the business is positive; it has secured new customers and has moved into a new area of work which generates higher profit margins, both of which will benefit the business and increase turnover.
Detailed forecasts and budgets reflect the need for an injection of funding to support the company’s strategic plans and the addition of Liquidity Plus has proved to be the ideal solution. This product is bolted on to an existing Close Brothers invoice discounting facility for a short to medium-term period and increases the amount of funds released from outstanding invoices.
Now the company has no cash flow concerns and is able to look forward to a profitable future.
