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Aldermore provides £2million in finances to Berisfords, a Cheshire-based ribbon manufacturer

POSTED: 27th March 2014
IN: Newsroom
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Aldermore, Britain’s leading challenger bank, has provided £2million worth of finances to Berisfords, a ribbon manufacturer based in the North West.

Berisfords was founded back in 1858 by three brothers. Today, the company employs approximately 100 people and supplies ribbons, bows and trimmings to companies across Britain and overseas.

Aldermore provided Berisfords with finances to support its future growth plans. The finances included a structured asset-based lend, with an additional overpayment facility. The finances were offset against the company's commercial property.

Andrew Walker, Finance Director at Berisfords, explains:"Aldermore are a different proposition to any bank that I've encountered in the past. Their facility level is much better, their rates are very attractive, and above all else they are quicker and more responsive.

"We needed the funds so that we could cope with the pre-Christmas rush, which is usually our busiest time of year. Thanks to Aldermore, it was a successful period and we were able to fulfil all our orders. The remaining capital will be used to expand the business and grow into new markets.

"Invoice financing is a simple but effective way of ensuring that we have cash in reserve throughout the year. I've no doubt that if we look to raise additional capital in the future we will go straight back to Aldermore."

Sean Thomson, Regional Sales Manager at Aldermore says:"Berisfords has been a big name in the North West for over 150 years, so we were determined to help them.

"I hope that with our funding, Berisfords will continue to grow its business both across the UK and internationally."

Since forming in 2009, Aldermore has lent over £1.7 billion to UK SMEs.

 **ENDS**

For further information journalists can contact:

Christina Bridge, Cicero Group

020 7947 5317

Christina.Bridge@Cicero-Group.com

 For further information about Aldermore, our financial backers and our PR contacts, please review our Notes to Editors page.  

  • Finance
  • Business
  • Manufacturing
  • Journalist
  • Press Release
  • Finance
  • Manufacturing

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