Cheers to that! Drinks wholesaler secures new finance facility
Hilton-Baird Financial Solutions has helped a wine and spirits wholesaler to replace, and therefore maintain crucial funding support after their finance partner exited the market.
Given the impact of the pandemic on the hospitality sector, which resulted in a 40% reduction in the company’s turnover, it was important we could identify a replacement lender quickly.
After bringing suitable options to the table, our client chose the lender and funding facility they felt was best. The non-recourse invoice discounting solution provided access to £750,000, enabling them to keep their cash flowing whilst additionally protecting their business against the risk of late payment and debtor insolvency. It also gave our client the ability and confidence to focus on their diversification into the online retail market.
Having used invoice finance to assist their cash flow for a number of years, our client was keen to find a new invoice finance partner that would provide the level of funding, support and service they were looking for. The options we provided delivered on all required aspects.
To help our client make the right choice for them, our team provided a comprehensive comparison of the facilities, enabling them to view all aspects of their options side by side in order to arrive at their decision.
One of the key reasons behind our client’s decision was the ease of access and use of the facility through an online system that integrated with their accounts package.
With their new facility in place, and buoyed by the reopening of the hospitality sector and their diversification into online sales, our client is forecasting higher sales going forward than ever before..
To explore the options available to your business, or to compare any existing facilities against the wider market, contact our team on 0800 9774833 or request a call back here.