Industry: Manufacturing
Product: Invoice discounting with bad debt protection
Facility size: £2.5 million
The company designs, manufactures and supplies of a wide range of quality, high performance and reliable cables for a variety of customers. The business was growing at a rapid rate and needed a new funding solution in order to provide valuable cash flow support.
With increasing orders and large amounts of working capital tied up in unpaid customer invoices, the company owners opted to partner with Close Brothers and a £2.5 million invoice discounting arrangement was put in place. Bad debt protection was also included, ensuring the business is fully covered in the event of bad debt. The business can now better handle cash flow during times of business growth.
