Factoring Case Study - Phoenix - Engineering t/o: £2m

Deal type: Phoenix Industry Sector: Engineering Turnover: £2m
The engineering business had run into serious financial problems and was about to be placed into administration by its parent company (that had let it rundown).

Despite this the sales and production managers could see it was a sound business with a good client base and they decided to buy it off the administrator.

With limited funds of their own, we introduced them to a funder able to provide an factoring facility covering their working capital requirement and a Small Firms Guaranteed Loan to buy the machinery.

Timing was of the essence to ensure customer retention and safeguard the jobs of 20 employees. The funders experience in the SFGL's administrative requirements ensured the paperwork was processed in double quick time and enabled a smooth takeover of the business by the new owners.

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