Our client, a Manchester based clothing designer, secured a major new contract with a well-known high street retailer. Due to the size of the order, assistance was required to pay the initial deposit and shipping costs for the manufacturing of the garments. Creative Capital put in place a £75,000 Trade Finance facility which covered 100% of the landed costs, with headroom for growth.
Due to repeat orders and the extended payment terms from the end debtor, additional cash flow assistance was required. Rather than waiting for 60 days to get paid and to clear down the trade finance facility, a Selective Invoice Finance facility was also taken. This allowed Creative Capital to purchase the invoice as soon as it was raised, and to clear the Trade Finance facility immediately. By doing this, our client was able to place a repeat order immediately. By utilising this back to back facility, our client has been able to grow much more quickly than anticipated.
As part of the facility, Creative Capital were also able to offer their unique Debtor Protection. The additional security offered comfort to all parties, and enabled increased growth for our client.
Due to the ongoing success of the business, the Trade Finance facility was doubled to £150,000 after only 3 months, with the option to review again in the future. This increase has allowed our client to pursue new customers, and to continue with their growth.
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