Invoice finance and Recovery Loan Scheme supports client’s ambitious growth
With significant growth plans in place, a manufacturer of electric bikes and parts was keen to secure the funding required to support their expansion and capitalise on new opportunities.
Since they were established more than 10 years ago, our client has gone from strength to strength and a new partnership saw the company join forces with a new partner, a move which allowed access to new research and development opportunities as well as a wider manufacturing base.
However, the business’s existing funding facility ceased to meet the demands of the growing business, particularly as they had experienced supply chain issues and required flexible funding to allow them to pay suppliers more quickly. Fortuitously, Hilton-Baird’s team got in touch at the perfect time to assist.
Their Managing Director discussed his business’s challenges and plans with our team, explaining they required a funding partner who would understand the sometimes complex nature of overseas supply chains.
Our team used their knowledge of the commercial finance market to introduce suitable funders who could fulfil this requirement. With a new invoice finance facility in place alongside funding from the Recovery Loan Scheme, our client now has the financing and flexibility they required to fuel their growth.