Factoring - Growth Finance Industry Sector: Health Foods t/o: £3m

Deal type: Growth Finance Industry Sector: Health Foods Turnover: £3m

The business manufactures nutritional products including breakfast bars as well as omega and protein rich snacks. It also manufactures "Own Brand" products for its partners.

In a fast growing sector the company needed to increase its productive capacity which meant a significant investment in new machinery and an extension to the factory. The business also recognised the need to beef up its online presence with a new website giving customers full details of its product range and enabling them to buy online, generating substantial additional revenue.

The company's bankers were less than enthusiastic about their expansion plans and the directors decided to look elsewhere.

By combining a factoring facility with an advance level of 85% to provide a significant increase in working capital with a Small Firms Loan Guarantee facility to cover the cost of new machinery, the factory extension and new website development costs, the company was able to complete all its expansion plans. It was also able to rent additional warehouse space to provide its increasingly important online web portal with the necessary fulfillment service it needed and to provide greater storage for finished stock.

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