Invoice discounting provides manufacturing firm with increased working capital
Industry: Manufacturing
Product: Invoice discounting with IDeal and Liquidity Plus
The client was considering its options to fund future growth and contacted Close Brothers Commercial Finance to provide funding based on the strength of their existing relationship with Close Brothers' asset finance team.
The firm wanted to move away from its current funding provider and turned to Close Brothers for a facility that offered higher levels of working capital and customer service excellence.
Close Brothers was able to provide an invoice discounting facility 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. The addition of a revolving term loan allowed the business to boost working capital.
The facility has enabled the manufacturing firm to purchase raw materials when prices are competitive and the additional funding will be used to fund the client’s working capital during periods of projected growth.
By working together and taking the time to fully understand our customer’s business and objectives; we have been able to provide a flexible and efficient solution to enable the ambitious growth plans of the business.
