- Emissions control company required working capital to fulfil a large number of orders
- PAF arranged a £4.3m Invoice Finance facility and a £700k working capital facility with a specialist lender, which would allow the company to fulfil their orders and grow the business
A company providing engine converters for vehicles to meet European compliance requirements was profitable, but needed working capital to fulfil a large number of future orders. The working capital would be used to buy the components for the engine converters and to supply these to clients.
The engine converter company engaged Primary Asset Finance to help them raise finance to fulfil their orders. We approached a specialist lender that understood the nature of the business and the support needed for the guaranteed future orders. The lender was also chosen because their funding facilities could grow if the company required more funding for growth in the future.
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.