Phil Trueman from the Leonard Curtis funding team has secured a new funding line to the value of £750,000 to support the growth of a thriving business in the service industry.
Working closely with the leadership team Phil engaged with the client to review all current facilities and find the best solution to enable the business to increase their fleet, taking into consideration they relied heavily on a single low risk debtor.
Previous facilities left the team exposed to heavy personal guarantees, and recognising this Phil worked to ensure that alongside the invoice discounting facility provided, that trade credit insurance was in place to protect both the directors and funder.
From initial introduction Phil completed the deal in less than 3 weeks – a key aspect of this was the ability to work with the Visibility team, part of the Leonard Curtis group, to deliver the financial survey required by the incoming funding partner.
The business is now growing rapidly and is in such a strong position that an investment event is on the horizon for continued expansion.
Phil was able to support this business by listening, understanding and making sure the financial obligations were tailored to secure a strong future.
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