Increased working capital required to accommodate both continued expansion of the business and longer payment terms agreed on key contracts.
The client already had a high value bank overdraft. The bank who introduced the business were willing to discuss a waiver on agreed customers. Bathgate discussed both selected invoice finance and supplier finance as solutions and introduced funders. Their sector limits options, but our expertise ensured funders were identified for both solutions.
Whilst both options suggested were approved, the client’s preference was supplier finance, which in addition to solving their working capital needs, also provided the ability for them to help their suppliers receive early payments.