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 says: “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.”
Mr Walker says that Aldermore’s funding will enable Berisfords to expand for the future. “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.” Andrew Walker, Finance Director at Berisfords