Case study

Invoice Finance helps paper supplier target multi-million-pound growth


This business was set up in 2019 by two brothers and specialises in the manufacturing and supply of tissue paper for a wide variety of uses. Having relied on self-funding until now, the arrival of third director in 2021 catapulted the growth aspirations of the business to new heights, leading the management team to look for a funding partner that could support them with guaranteed access to additional cashflow to help the business meet its ambitions.

One of the directors explains, “Our third director joined us and brought with him a lot of his experience and existing contacts, which meant that very quickly we had several new lucrative contracts to service which could help us go from a £1.5m turnover to £3m within a year, which is incredible but not without its hurdles. We knew that to sustain this level of rapid growth we would need to get additional working capital to help pay wages, overheads and suppliers, so we set out to explore our funding options”.

They met with Ultimate Finance’s Regional Director John Davies who immediately understood the specific needs of the business and how an Invoice Finance solution could provide the breathing room and access to liquidity the team was looking for to support their rapid growth ambitions. He says, “For many businesses, growth plans can prove difficult because it requires a level of day-to-day cashflow that might not be accessible on day one, and very quickly an opportunity can prove challenging if cash starts to run out. Invoice Finance is a great solution for a growing business as it allows for the cash tied up in invoices to be accessed on the same day as an invoice is raised, removing the need to wait weeks or even months for it to be paid and allowing the business to keep moving forward”.

Making the most of Ultimate Finance’s approach to technology, John enabled the directors to provide access to their supporting financial documents securely and easily via a partnership with an accounting integration platform that removes the need to source and send sensitive data. John explains, “Modern technology means that the business was able to let us access the documents we needed within just a few clicks, saving them on the time it would have taken to compile it all themselves, speeding up our underwriting process and protecting their information from being intercepted or lost. The information allowed us to propose a £275k Invoice Finance facility, which will allow the business to service new and existing clients without stretching their access to liquidity too thin”.

With the funding in place and the ongoing support from dedicated Relationship Manager Jackie Hunt, the business is now on course to double its turnover this year and eying further growth to £5m within three years. John concludes, “I’m delighted to have been able to support this young business and its team on their journey to success. As the company continues to gain in popularity and attract new customers, we have also been in talks to assist with the purchase of a new machine to help them provide their services to even more customers”.

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