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Industry: Healthcare

Product: Confidential invoice discounting

Facility size: £3 million

This organisation launched in 2014, building the first private healthcare establishment for the region. Investors advanced a significant amount of funding to support the construction of the property and CAPEX, leaving a further requirement for working capital. Having been turned down by their bank for an overdraft, the client opted to raise the funds through invoice finance.

This was one of the UK’s first invoice finance facilities ever written for the private healthcare sector, and alongside data protection and compliance issues surrounding the industry, the deal was complex to underwrite. The client chose to partner with Close Brothers due to its reputation for finding solutions to multifaceted deals such as this.

Speaking about the deal, Ian Steward, Managing Director of Close Brothers Invoice Finance said, “We are delighted to have been able to provide this customer with the working capital it required. We are often approached by businesses with strong current or projected performance that are being turned away by high street banks because the firm does not fit its one-size-fits-all model.

"At Close Brothers we pride ourselves on building bespoke facilities that are completely unique to each of our customers – and that includes those more multifarious deals that other providers are not able to support. We are very pleased to have been able to help this business access the vital funds it required and look forward to a long and prosperous partnership together.”

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Close Brothers Invoice Finance
Ridgeland House
165 Dyke Road, Hove
East Sussex, BN3 1UY

T: 0127 305 9530 *

*Freephone from landlines

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