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Industry: Food and drink

Product: Invoice discounting with bad debt protection

Facility size: €400,000

This company produces and packages ready-made cooking ingredients, such as flavoured butters, oils and sauces. The products are made in bulk and are mainly used by food preparation services and restaurants.

The business had contracts with a small number of key large food preparation services. While working with these larger businesses was profitable, these deals also demanded longer invoice payment times which had put a strain on cash flow. In addition, having a smaller number of deals with large business created some business risk, as customer insolvency would be very disruptive.

To mitigate against these longer payment times, the company secured an invoice discounting facility with Close Brothers up to the value of €400,000. This confidential facility allows the company to continue with wholesale production, and deliver against the contracts they have agreed, while continuing to collect invoice payments as usual.

After discussing their needs with our finance experts, the business also added bad debt protection to their agreement.

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Close Brothers Commercial Finance
Swift Square | Building 1
Santry Demesne
North Wood
Dublin 9
D09 A0E4

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ROI: (01) 871 1060

NI: 028 9344 1410

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