Automotive business set for increased turnover with £1.5m Invoice Finance facility

Gardx International LTD has built an impressive reputation selling protective products, predominantly to car dealerships, which are primarily used for the protection of external paintwork on vehicles. In addition, the business also offers a range of leather and fabric cleaners, wheel protective coatings, A/C cleaning solutions and engine flush chemicals.

With great ambitions to increase turnover four-fold in the next eight years, the business turned to introducer Alex Kyriacou at Funding Advisory Ltd to understand what funding options could help turn this impressive goal into reality.

Addressing funding needs from a multi-dimensional perspective

Alex explains, “I have previously worked with Ultimate Finance on various Invoice Finance and Bridging Finance transactions. I’ve consistently been impressed by their speed and their knack for thoroughly understanding a deal to create unique solutions for my clients. The team demonstrated the same drive, expertise, and professionalism as before, highlighting Ultimate Finance’s capability to address the funding needs of both their introducers and our clients from a comprehensive perspective”.

Ultimate Finance’s Deal Team approach

Regional Director Chris Mitcham remained Alex’ dedicated point of contact and worked with him from the outset to tailor an Invoice Finance facility that would meet the needs of the business.  He says, “Our “Deal Team” approach means that we work closely with our Underwriting and Relationship Management teams from the very start, and so we are able to get things moving fast from day one. This approach helps remove any unnecessary back and forth during the application process as the underwriters get access to exactly the information they need to make a quick and informed decision”.

Unlocking growth with Invoice Finance

Ultimate Finance’s £1.5m Invoice Finance solution enables the business to access the funds tied up in unpaid invoices and provides the cashflow it needs to meet its ambitions. Chris continues, “Interestingly we had already met with the business early in 2020: due to the pandemic and the trading uncertainties associated at the time, the business, as did many others, decided to take out a bank-provided CBILS Loan. With the scheme now ended however, Invoice Finance remains a great solution to access the liquidity they are after, and when introduced to us again this year it was the exact same team that was able to work on their application on our end. That means we already had a great understanding of what makes the business successful, its ambitions and pain points, and we were able to create a facility that will provide it with the right funding to help them meet their growth targets”.