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Archive for September, 2021

Can secure more orders but need to hold more stock.

Monday, September 13th, 2021

A client that we have funded vehicles before approached us for a term loan to buy more stock.

They are a re seller of mattresses. They have an opportunity to supply a large chain hotel on a regular basis but have to hold more stock especially the more popular items.

Rather than a term loan that needs to be repaid and once spent, it is gone, we suggested a stock finance facility as they already hold a lot of stock.

We were able to secure a loan facility to borrow money against their stock and the more stock they held, the more they could borrow.

This worked out perfectly for them as it allowed them to build up the additional stock they needed and was secured against their existing stock.

Posted in Case Studies, Stock Finance | Comments Off on Can secure more orders but need to hold more stock.

Far better margins if we buy direct from abroad

Monday, September 13th, 2021

We have a client who is a re-seller in the plumbing sector.

For years they have bought goods from UK manufacturers but they have the option to buy the same goods from China for a far better price.

Currently their suppliers give them credit terms but buying in bulk from China, they would have to pay with the order.

The company already uses invoice finance and they simply do not have enough cashflow to do this. We introduced them to trade finance.

The trade finance company advances them the money to pay for the goods and then when the goods are sold to their business clients, the trade finance company also provide the invoice finance until the invoice is settled.

A complete solution from buying the goods to have their customers invoice settled in full.

Posted in Case Studies, Invoice Finance, Trade Finance | Comments Off on Far better margins if we buy direct from abroad

Cashflow tight but don’t want invoice finance

Monday, September 13th, 2021

We had a client who had trade debtors but did not want to use an invoice finance company.

The main reason for this was that the business was very seasonal with peaks and troughs in quarterly turnover and they didn’t want to pay for invoice finance when cash flow was OK.

We introduced them to a specialist company that provides them with funds each time they need them (like a traditional bank overdraft).

They only pay interest on the money when they borrow it. This solution suited them perfectly.

Posted in Case Studies, Revolving Credit Facilities | Comments Off on Cashflow tight but don’t want invoice finance

Opportunity to buy land and build premises

Monday, September 13th, 2021

One of our clients needed to scale up their business premises and had been leasing for the last 5 years.

They wanted to invest in a property for their family business and saw an opportunity to buy land with planning permission to build a unit of 9,000 square feet which was ideal.

We were able to fund the purchase of the land with a term loan, which was secured on the land at very good rates, as there are some specialist lenders that have access to subsidised loans where they are used to create jobs.

We then used a similar, but different, company to provide bridging finance for the build of the new premises. Once the premises were completed, we then provided them with a commercial mortgage to repay both bridging finance loans.

Posted in Business Loans, Commercial Mortgages | Comments Off on Opportunity to buy land and build premises

Opportunity to buy premises from Landlord

Monday, September 13th, 2021

A regular client of ours had an opportunity to buy his factory premises from his landlord after renting them for many years.

The issue was he had to find a 30% deposit.  We were able to fund the whole purchase by providing a term loan as the deposit and a commercial mortgage for the balance.

Posted in Business Loans, Case Studies, Commercial Mortgages | Comments Off on Opportunity to buy premises from Landlord

Funding required to expand business

Monday, September 13th, 2021

A well established retail business had an opportunity to expand and purchase two new retail units.

These units required deposits, complete refurbishment and stock. In total nearly £300,000 was required.

Although a home owner with equity, the husband and wife team did not want to borrow money against their house and had no other assets (or so they thought).

However they both had pensions from previous employment and we were able to set up a facility with a specialist who enables people to borrow money from their own pension pot.

Posted in Case Studies, Pension Led Funding | Comments Off on Funding required to expand business

Adding to and replacing a haulage company’s fleet.

Monday, September 13th, 2021

A relatively new business was looking to upgrade it’s fleet of vehicles and adding to them after winning a large contract.

The contract would allow the business to more than double it’s turnover. The owner of the business was not a home owner and thought he would struggle.

We have a lot of experience in financing vehicles and equipment. We were able to finance all the new vehicles required and finance the replacement vehicles too. On top of that, deposits were required for each vehicle and we were able to refinance some of the older fleet to raise all the deposits for the new vehicles.

Posted in Asset Finance, Case Studies | Comments Off on Adding to and replacing a haulage company’s fleet.

Problems with HMRC arrears

Monday, September 13th, 2021

This company approached us to initially provide an unsecured loan to repay some large HMRC arrears.

Once we identified how the arrears had built up, we were able to raise most the money required to pay off the arrears in full, but we advised this business to put a time to pay arrangement in place with HMRC through a specialist that we know well.

Once that was agreed, we put a finance facility in place to ensure that the arrears were repaid on time as well as the current commitments.

Posted in Asset Finance, Case Studies | Comments Off on Problems with HMRC arrears

Buying a competitor

Monday, September 13th, 2021

An existing client of ours saw an opportunity to acquire a competitor where the owner wanted to retire.

XL Business Finance were able to use the assets from the existing business and the business to acquire to finance the full purchase of the business.

This was done through using one of the new challenging banks to provide most of the funds and as XL Business Finance also provide funds to finance and refinance, we were able to provide additional funds by refinancing some of the existing equipment.

Posted in Business Loans, Case Studies, Invoice Finance | Comments Off on Buying a competitor

Fast growth business

Monday, September 13th, 2021

We were introduced by this company’s accountant as the business was growing quickly and cashflow was becoming a real problem.

They already used invoice finance and their accountant didn’t know what more to do.

XL Business Finance did a review of their invoice finance facility to see that their current provider was not funding the sales ledger sufficiently as they were putting restrictions in place.

We introduced to them a new facility where they received 90% initially of all outstanding invoices and ongoing basis with the remaining amount paid once their customers paid the invoice finance company.

The new invoice finance company also made an additional £120,0000 available to run alongside the invoice finance facility in the event that they ever needed it, especially while growing so quickly.

Posted in Case Studies, Invoice Finance | Comments Off on Fast growth business

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