Vehicle emission control company successfully financed!

Primary Asset Finance has successfully arrange funding for a company that provides engine converters for vehicles to meet European compliance requirements.  The company needed working capital to fulfil a large number of future orders.

With the lender, Primary Asset Finance arranged a £4.3m Invoice Finance facility and a £700k working capital facility, which would allow the company to fulfil their orders.  Furthermore, identifying a lender that could provide a growing facility meant that the funding is in the best solution for the company both now and going forwards, facilitating future growth.

For more details, visit the case study.

Corporate Development Association talk

The Primary Asset Finance team recently attended the quarterly Corporate Development Association (CDA) at the East India Club in St. James’ Square, along with the new Primary Business Finance franchise Associates. Andrew McTear of McTear, Williams & Wood gave a short speech on his experience as an Insolvency Practitioner, as well as conveying some interesting personal insights into the current economic situation. As always, it was nice to learn from a speaker experienced in their field, and to have the opportunity to meet with new and existing contacts.

We would like to thank the CDA committee for their continued commitment to providing these thought-provoking and enjoyable lunch talks – we highly recommend them!

Problems on the high street

It’s hard not to notice the increasing number of problems for businesses in the retail sector at the moment. Over the last few months we’ve seen store closures for New Look, Mothercare and House of Fraser, whilst Toys ‘R’ Us and Poundworld have gone into administration. Experts are expecting more problems to come, due to a slowed rate of growth, rising overheads and high levels of debt, potentially due to irresponsible lending.

At Primary Asset Finance, we work with our clients and funders to ensure that the lending we oversee is responsible, appropriate and transparent, so that it helps the client and company as it should. If your business requires funding and you would like to speak to us to find out what we can do to help, please email us at enquiries@primaryassetfinance.co.uk.

Updated Privacy Statement

Ahead of implementation of the new General Data Protection Regulation (GDPR) on 25th May 2018, we’ve updated our Privacy Statement to outline how we collect, store and handle your personal data.

Our new Privacy Statement is:

– simple and easy to understand

– clear about your rights with respect to your privacy and personal information

– transparent about how we collect and store your personal information

You can find our Privacy Statement here.

If you have any questions regarding how we handle your personal data, please contact us at: enquiries@primaryassetfinance.co.uk

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.