Invoice Finance facilitates overseas manufacturing
Established in 2006, manufacturer of drinkware and promotional goods, Listawood Promotional Products, decided in 2021 to relocate their EU sales to a central location in the EU as a direct result of and in response to Brexit. Providing a central location as well as access to new markets in Eastern and Southern Europe, Poland was the chosen location to help the business maximise its competitive advantage.
In order to support this expansion, the business needed to access funding to keep cash flowing as the level of sales increases. Their existing funding partner in the UK was unable to support this new venture as they needed Polish sales to be in excess of £20m.
Finance Director, Michael Franks, approached Hilton-Baird Financial Solutions, as advertised on Moneyfacts.co.uk. The Polish market was challenging with many funders seemingly unwilling to support a new business, despite having evidence of historic sales through the UK parent and investment in production facilities.
After discussing the company’s goals and challenges in detail, the team at Hilton-Baird identified options and funders who would be able to provide a solution in Poland that delivered the required support and understood the business. The invoice finance facility secured provides the desired funding levels, with a fee structure that works for the business.
Michael Franks, Finance Director comments: “Hilton-Baird helped us find an invoice finance provider in a geographical area in which we had no experience and very limited success on our own. We are delighted to have the right funding in place to support our expansion and would recommend Hilton-Baird’s services to anyone who is looking for funding for their business.”
