Industry: Recruitment
Product: IDeal™ invoice discounting with bad debt protection
Facility size: £1 million
Business growth has been a high priority for the company owners, however one shareholder was looking to exit the firm and focus on other objectives. The remaining directors needed to source additional working capital to finance the buyout and sought guidance from their financial advisor.
A £1,000,000 package was provided using the Close Brothers flagship product, IDeal™. In addition, they took advantage of the six months free bad debt protection offer. The required level of finance was raised to support the management buyout.
