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Tying Up Finance Nicely

How we helped a Ribbon Manufacturer with an invoice finance facility.

Understanding finance requirements

Berisfords, a ribbon manufacturer, required additional financing to consolidate the position of the business, and to raise funds to facilitate seasonal stock purchasing.

Understanding their finance requirements allowed us to create a bespoke invoice finance package to meet business needs.

A national success

Andrew Walker, Finance Director at Berisfords, explains: “We turned to our existing bank for additional funding and after a lengthy and protracted credit process they put an offer on the table. In the meantime, we’d also been looking at other options and Aldermore responded to our needs almost instantly. They were able to provide us with a decision within a couple of weeks and they were the preferred option.” 

Seeking out a financing facility

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

See what our Bank can do for you…

If you would like to find out more about how Aldermore could help you achieve your business dreams you can read more about how we have helped companies just like Steve's by visiting www.aldermore.co.uk/invoicefinance or you can speak to one of the team directly by calling 0800 721040

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  • Finance
  • Business
  • Invoice Finance
  • SME
  • Case Study

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