Gym-Wear Importer – Supplier Finance Case Study
After 2 years of trading and a projected annual turnover of £310k, business is looking good for this Manchester Gym-Wear Importer.
No reserves left
After 2 years of solid trading, a Gym-Wear Importer received an unexpectedly large Christmas order from an online Retailer. Because the business owner had used all their personal reserves to self-fund the start-up, and their supplier in Turkey required 50% payment upfront and 50% after the goods have been inspected, their cash flow couldn’t support the initial supplier payment.
Not wanting to lose the order or their customer, they needed immediate funding in place to pay the supplier and complete the transaction.
No sweat for Ashley
An Ashley Advisor visited them and 10 days later they had a Supplier Finance facility that paid the initial £50k deposit that was only repaid once the goods had been paid for by the customer. And their funding limit is now 100k, automatically increasing inline with their turnover.
And we’ll chase invoices
As long as they’re with Ashley, they’ll have a dedicated Client Manager and Credit Controller who acts on their behalf, collecting outstanding invoices and managing the sales ledger. It drastically reduces their administration time so they can concentrate on creating new sales and growing business.
Speedy funding gave ICP Networks the opportunity to jump ahead with plans to expand.
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These guys needed a lender who could see the good in their business, not dwell on current issues.
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