Industry: Wholesale
Product: Asset based lending (ABL)
Facility size: £3.75 million
The organisation had an existing invoice finance arrangement in place, however they were advised that the incumbent financier would soon depart the UK market. The management team needed to source an alternative and were introduced to Close Brothers. A blended ABL facility was chosen, combining a £3,000,000 invoice discounting line with £750,000 of funding against the value of their stock.
An appropriate and robust finance facility was secured within the short timeframe specified.
