When it’s time to move on
There often comes a time when successful businesses outgrow their current funding facility.
A supplier and fitter of commercial flooring experienced this precise problem when their turnover increased, but the size of their funding facility did not.
Fortunately, our team was on hand to help them secure an additional £350,000 to keep their business on track for success.
Trading since 1997, the business was experiencing year-on-year growth that showed no signs of stopping. And, with turnover expected to reach £4 million, the company needed additional funding to support this impressive growth.
Unfortunately, however, their current funding facility was capped and didn’t allow them the freedom needed to allow for peak periods.
The company felt that their existing funder didn’t really understand the challenges and nuances of the construction sector. Knowing that there had to be a lender out there better aligned with their business model, the Finance Director contacted Hilton-Baird Financial Solutions to find the perfect fit.
Assessing all the options
After getting to the know the business, its goals and funding requirements, we used our extensive knowledge of the commercial finance market to introduce a selection of funders who would be able to offer a service more suited to the company’s needs.
Our client had the opportunity to weigh up the options and decided on a £750,000 confidential invoice discounting facility from a lender they felt understood their business and sector the most.
They were also keen to use the new real-time system, which meant they would no longer be 24 hours behind – something that would be invaluable to their business.
Now, with their new facility in place, our client has the confidence to move forward, knowing that their funder understands their business and its growing needs.
If your business has also outgrown its funding, we could find a solution better suited to your needs. Contact us today on 0800 9774833 or info@hiltonbaird.co.uk to discuss your requirements with one of our funding consultants.
