January’s Done Deals
A selection of deals we have completed in the month of January!
What a fantastic start to 2020! Independent Business Finance have got the new year off to a great start completing some fantastic deals in January. In addition, it has been a busy month catching up with clients, colleagues and funders as well as being busy attending some great events.
Take a look at a selection of deals the team have successfully completed throughout the month of January;
Case Study – Confidential Invoice Discounting (CID) Facility Engineering Company – Lancashire – £400k turnover
This company’s overdraft was being pushed beyond it’s limit, while the bank simultaneously wanted the limit to be decreased. The company had sought a Confidential Invoice Discounting Facility on their own, but without success. We successfully sourced a Confidential Invoice Discounting Facility with an independent funder, allowing our client to retain their own credit control, paying off the bank overdraft and providing additional working capital. The bank was also able to retain the client without them switching to a bank competitor.
Case Study – Asset Finance Manufacturer – Midlands – £1m turnover
Our existing client approached us after winning a new contract and needed additional machinery to keep up with the increased demand. Our client found a used machine and required a finance company who were comfortable financing a second hand machine. We were able to source a lender who was willing to finance the machine and the commissioning of the machine, with a low interest rate over a period of time that suited our clients cashflow.
Case Study – Invoice Finance Haulier – Yorkshire – £140k turnover
Our client was introduced to us by their bank as the bank factor were unable to set up an Invoice Finance Facility due to having a restriction on the minimum size of a client. We successfully sourced a Facility with a £30k funding line, with the knowledge that this facility will enable our client to win new business and therefore lead to an increased requirement in the funding line. We have also protected the debtors so our client knows they are able to trade and if their customers get into financial difficulty it will not affect our clients cashflow.
Case Study – Unsecured Business Loan Accountant – Manchester – £600k turnover
Our client who had been trading for 2 years wanted to expand the practise by taking on new members of staff and needed to pay for training and purchase additional office space and equipment. We arranged an Unsecured Business Loan for £70k to be repaid over a 2 year period with a low interest rate and no penalties if our client wishes to repay early.
This is a selection of January’s Done Deals completed by the team here at Independent Business Finance!
If you are looking to improve your business finances, or would simply like to talk to us about funding options available for your company, or a client you know, then call our office – we can help! 01204 398816 😊
