Bridging the gap for importers – Logotek Promotional Merchandise Ltd
Hilton-Baird Financial Solutions helped Logotek Promotional Merchandise Ltd bridge the gap between getting paid and paying their suppliers by introducing a flexible factoring facility.
Trading since 1996, importer of branded corporate gifts, Logotek Promotional Merchandise Ltd began to notice an increase in large, but relatively infrequent orders, from overseas.
Whilst large orders are obviously good for business, managing director Phil Page expressed concern as the value of the orders resulted in Logotek Promotional Merchandise Ltd being unable to bridge the gap between paying suppliers, in areas such as the Far East, for the goods to be shipped and receiving customer payment.
Phil said: “The number of large orders was fantastic, however we were in need of a cash flow boost in order be able to pay our suppliers as they nature of our business means we don’t receive our payment from our customers until the goods get shipped.”
Whilst searching for a funding solution that would meet these requirements, Phil spoke to Hilton-Baird Financial Solutions. With over 13 years of experience of helping out businesses like Phil’s, Hilton-Baird was able to listen to what Logotek Promotional Merchandise Ltd needed form their facility and matched them up with funders offering what they needed.
“Hilton-Baird immediately understood what my business required,” Phil said. “They soon introduced me to funders that offered my business a flexible factoring facility that enables me to use it as and when required without incurring minimum fees.
“This is ideal for my type of business as the large orders can come unexpectedly, whilst they also vary in frequency depending on what season we are in. I now don’t have to worry about not being able to pay my suppliers before receiving my own customers’ payments.”
Logotek is the parent company of iBrolly promotional umbrellas.
If like Logotek Promotional Merchandise Ltd you need to source funding to bridge the cash flow gap between getting paid and paying suppliers contact our team today on 0800 9774833 or email info@hiltonbaird.co.uk. Alternatively, request a call back and one of our funding consultants will call you!
