Product: Invoice discounting
Facility size: €400,000
Funded by its founders, this clothing distribution company had performed well, but more working capital was needed to support development and growth.
Having generated a profit over the previous two years, the owners of this company decided to expand the business by diversifying their product range. This ambition meant that they needed to find additional suppliers, and invoice finance was therefore to be used to finance purchase of this new stock.
Close Brothers were able to offer the wholesalers a confidential invoice discounting facility which gave them up to 80 per cent of the value of their unpaid customer invoices in advance. This additional headroom continues to fund a growing, profitable business.