Product: Invoice discounting with IDeal™ and stock finance
Facility size: £6 million
The client is the number one manufacturer within their sector in Europe. The business became unhappy with their incumbent lender after the provider ceased funding against their stock line, leaving them short on working capital.
Close Brothers was able to offer an improved facility which included stock funding and the use of our market-leading, real-time online invoice discounting platform, IDeal™, providing instant access to cash and automatic month end reconciliation - saving the business both time and money.