Unlocking working capital for recycling business

Industry: Services

Product: IDeal

Facility size: £500k

The client

This independent, family-run recycling company based in the Scottish Borders, specialises in the processing of end-of-life plastic. With a strong commitment to innovation, the business has invested in a purpose-built laboratory to develop new methods of plastics recycling and operates a dedicated logistics team to support local recycling initiatives.

Their core process is converting waste plastic into reusable plastic pellets, which are then supplied to manufacturers for use in new products. As demand has grown, the company has self-funded the expansion of its site and invested in advanced equipment to sort mixed materials more efficiently.

The challenge

To support its ambitious growth strategy, the company needed access to working capital to take advantage of bulk purchasing opportunities. By acquiring larger volumes of waste plastic, they could fulfil bigger orders and attract new clients seeking large-scale recycling solutions.

However, with a diverse client base and varying payment terms, cash flow management proved challenging. Waiting up to two months for invoice payments limited their ability to invest in raw materials at scale, restricting growth potential.

The solution

Close Brothers Invoice Finance provided a £500,000 invoice finance facility through our IDeal platform.

Invoice finance enables businesses to unlock the value of unpaid invoices, providing immediate access to cash. This is particularly beneficial for companies operating in sectors with extended or inconsistent payment terms, helping them maintain control over their cash flow.

As a first-time user of invoice finance, the client found IDeal to be a seamless solution. The platform integrates with over 300 accounting systems, offering intuitive management and eliminating the need for manual reconciliation.

The result

With improved cash flow, the company has increased its purchasing capacity and boosted the production of recycled plastic pellets. This has enabled them to meet growing demand from existing clients, including manufacturers of playground equipment and wheeled bins, who require larger batch volumes for their projects.

Discover how our IDeal platform can help your business take control of cash flow and seize new opportunities. Get in touch with our team today to learn more.