Facilitating impressive growth – NXP Europe Ltd
Many businesses in the UK rely on inflexible and insecure funding options such as traditional bank overdrafts or family and friends and are unaware of the best funding solution or funder for them.
After a breakdown in relationship occurred with a previous funder, due to the facility not quite matching the needs of the business, Peter Doyle, managing director of Tunbridge Wells-based printers NXP Europe Ltd, bought himself out of the facility and began self-funding.
However, when financial forecasts suggested growth was possible in 2012, Peter got in touch with Hilton-Baird Financial Solutions in search of an ideal solution to help facilitate this growth.
By getting a second opinion from the invoice finance specialists, Peter was informed of the solutions available to help his business and introduced to the two funders best suited to meet his requirements.
Having been impressed by the speed in structuring a tailored facility, Peter went with a flexible invoice finance facility that has enabled him to invest the available working capital in growing NXP Europe Ltd.
“Hilton-Baird really listened to me,” said Peter. “They understood my concerns and needs whilst appreciating previous issues I had with funders in the past. Their knowledge of the market meant we found the perfect funder and solution for my business which has given us the opportunity to grow.”
And grow they have. In the two years since the facility has been in place, sales have continued to grow impressively and increased annually by 25% last year. Being very technology-driven, one of the biggest delays in processing work is booking it at the start, and so they’ve additionally been able to invest heavily in technology to automate this process.
“Invoice finance has been the ideal facility for us, helping to fund our cash flow and enabling us to grow at the rate we have. We couldn’t be happier.”
For more information about NXP Europe Ltd visit: www.nxpeurope.com
To find out how we could introduce your business to the most suitable funding facility, contact us on 0800 9774833, or get a quick quote to find out how much funding you could access.