Industry: Recruitment
Product: Confidential invoice discounting
Facility size: £6 million
This Midlands-based client operates in the rail, engineering and technology sectors. Having experienced challenges with the service provided by another lender, management decided to switch to Close Brothers Invoice Finance following a strong historic relationship with another group business which saw Close Brothers provide £12 million to help fund a leveraged buy-out in 2012.
More recently, Close Brothers was able to offer a £6 million confidential invoice discounting facility, releasing working capital to fund weekly payroll requirements.
In total, Close Brothers Group now extends facilities totalling £18m across Close Brothers Invoice Finance, Close Brothers Leasing and Close Brothers Premium Finance along with the customer service excellence that the client needed.
