Grocery supplier refinance success!

The Primary Asset Finance team have successfully refinanced a well known fruit & vegetable company who supply top restaurants with fresh and delicious produce. The business, with turnover of over £30m, was facing issues with it’s banker and approached us with a view to restructuring their finance and ideally providing funds for potential expansion.

After consultation on specifics and approaching our network  Primary Asset Finance have completed a £5.2m Invoice Finance facility and £2.8m of additional working capital facilities, to help the company with its future growth plans.

For more details, visit the case study.

Good Luck and best wishes in the future, Terry!

Terry Hounsome is leaving the Primary Asset Finance team, moving on to pastures new and focusing on the funding side of business. We’re sad to see him go but part on great terms and look forward to working with him again in any guise in the future. We would like to thank Terry for all his hard work over the last few years and wish him all the best.

Cold comfort…

The current cold weather snap has caught some of us who were hopeful that we were on the cusp of Spring a little unawares. It’s a reminder that just as with any walk of life being prepared for the unexpected and careful planning is crucial for any business. Primary Asset Finance helps companies to access the funding that they need to ensure that they are ready for the unexpected, these can be problems, but also those opportunities that can quickly arise. If you would like to discuss how you might be able to access working capital or finance for a specific business project please contact us.

Finding the Perfect Match

 

With Valentines Day this week, thoughts for some can turn to finding the right partner, or finding the perfect match (if they haven’t already!).

This is what Primary Asset Finance does day in and day out by understanding the funding needs of our clients, before we then reach out into the market to find to most suitable solutions. So if you have a need for finance, contact the experts in finding an ideal match for your business!

How Flexible Is Your Business?

It’s been and interesting week or two on the global stock markets with talk of possible interest rises spooking some investors and leading to what some analysts believe is  an overdue correction from historic high levels. Some analysts however are more pessimistic and see this as the beginning of the end of the bull run. Only time will tell!

That ability to think and plan ahead is an essential ingredient of any successful business. Having the finance in place to be able to adapt to any situation by investing in growth, or being able to change course is an essential part of any modern business today. Primary Asset Finance helps our clients to do this so that they can adapt their strategy to be flexible around both planned and unplanned events. Contact us if you want to hear more.

Debt funding secured for pre-revenue Cambridge tech firm

Primary Asset Finance were approached by the Finance Director of a pre-revenue tech company based in Cambridge to raise debt finance to enable them to purchase a new piece of specialist equipment which would help the company achieve more accurate results when measuring outputs from their day to day operations.
Through our extensive panel of specialist lenders, the Primary Asset Finance Team were able to secured funding in excess of £100,000 by way of a Hire purchase facility repayable over 60 months at competitive rates with no personal guarantees being provided by the Directors.

Changing with the Seasons

It might not seem like it, but despite the gloomy weather, the nights are getting shorter! Hopefully Spring will be on the way in a month or so to bring a welcome end to the chilly days of Winter.

Seasonality is something that many clients of Primary Asset Finance’s see within their businesses, some with trading peaks in the run up to Christmas, others at different times of the year, for example the summer months. It depends on the company’s business model and sector. Primary Asset Finance are able to work with lenders to ensure that loan repayments and debt servicing schedules are matched to seasonal movements in cash flow to minimise and smooth out peaks and troughs. If you have seasonality in your business, or could do with some extra working capital we can help. Get in touch with Phil, Neil or Terry to find out more.

Carillion in trouble- but you don’t have to be!

With the Construction giant Carillion announcing it has gone into liquidation today, crisis talks continue with the government. But there are hundreds of smaller companies reliant on cash flow and business from the huge contracts Carillion has on its books. (For more information why not have a look at the articles here and here).

Primary Asset Finance look specifically at refinancing and restructuring existing debt so why not get in touch if you’ve been affected, or let someone who has been affected know that we might be able to help.

Deadlines!

January is typically the month when many accountants clear their diaries and focus on the rush to get client’s personal tax returns computed and filed before the 31st.

Every year many of us resolve to be better prepared and not leave it to the last minute (but we always do!), expecting our accountant to then pick up the slack (which they hate!).

Planning ahead is key to any business and helping with financial forecasts is one of the services that some accountants provide for their clients.

Primary Asset Finance works with a number of accountants to help companies put in place the necessary finance that their plans tell them they need to meet cashflow/working capital requirements and to purchase new equipment. Do you have a client that could benefit from our services? If so why not get in touch. Don’t get caught out!

Happy New Year!

The start of a new year is often associated with making new resolutions. There’s no better time for companies to resolve to look at their current financing, whether they are getting the best deal and have the optimal working capital funding structure to maximise cashflow availability. At this time of year cashflow can be tight for some businesses due to seasonality. Primary Asset Finance can assist by looking at either short or longer term sources of finance which can help to take the pressure off.