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Archive for August, 2020

Nitecrest

Sunday, August 30th, 2020

“Nitecrest have been using XL Business Finance to fund its capital expenditure since the business started trading some 10 years ago. As a new start business XL Business Finance were able to arrange finance for two large machines costing around £200k each. We continue to use them as they provide a high level of service and expertise. We would have no hesitation in recommending them.”

R A Hart, Chairman, Nitecrest Ltd

Bridging for property developer

Friday, August 14th, 2020

A South West based property developer contacted us about raising a large amount of finance to purchase a block of flats.

The funding was required urgently to avoid missing out on an opportunity.  The developer had a 30% deposit and only required short term funding due to the imminent sale of another property which would fund the flat purchase.

We arranged a bridging loan for the client and handled the entire application process.

Vehicle fleet funding

Friday, August 14th, 2020

Companies with large amounts of cash tied up in assets often use asset finance and asset refinance to raise additional funds.

XL Business Finance have over 2 decades of experience in this area and a wealth of funders offering competitive fees and special deals for specific sectors.

We always look for the best deal dependant on circumstances.  We recently arranged a refinance for company with a fleet of vehicles and the funding was used to grow and train the workforce, maximising capacity and growth.

Hotel renovation funded

Friday, August 14th, 2020

A hotel group approached us with a requirement for a renovation fund for some of their hotels.

We worked on a Business Loan package and secured almost £1 million of funding.  The funding was also used for brand development and marketing.  The business was able to repay the lending over 10 years and as a result the business grew from strength to strength.

Food supplier gets cash flow assistance

Friday, August 14th, 2020

A Cardiff based food supplier, relatively new in business, secured a contract to roll out their supply of food to a nationwide chain of hotels.

We secured a facility to generate cash flow to pay key suppliers on time for the ingredients and packaging thus allowing for further growth of the business as volumes increased.

The facility allowed the company to then have discussions with other hotel groups and they expanded the business rapidly.

Cashflow support for manufacturer

Friday, August 14th, 2020

When companies spend heavily on R&D, traditional lenders see them as heavy loss makers so therefore high risk.

Our manufacturing client secured a lucrative deal with a big customer but couldn’t satisfy the order due to lack of cashflow.  We arranged Pension Led Finance through the Director’s scheme, allowing the Director to draw down his pension as a company loan.

Telecoms hardware supplier

Friday, August 14th, 2020

Manchester based telecoms hardware supplier required a finance package after securing a deal with a major phone company.

The company supplied hardware to wholesalers and retailers.  They were in a high growth phase and needed cashflow support to allow further contracts to be won.  XL Business Finance arranged £100,000 Selective Invoice Finance facility to support their growth.

£2m turnover automotive supplier

Friday, August 14th, 2020

 

“My business had just secured a large contract from a UK plc but was faced with having to sub-contract the final process, thus paying for someone else’s overheads and profit. An introduction to XL Business Finance helped secure suitable funding for the right piece of machinery to be enable the same operation to be brought in-house. Monthly turnover jumped from £100k to £250k on the back of this asset.”

Financial Director, £2m turnover automotive supplier

£10m turnover print business

Friday, August 14th, 2020

 

“After trawling the major clearers for 6 months, XL Business Finance were able to put in place a deal for a £2m capital asset when nobody else would look at it. Their perseverance and diligence in establishing a deal was a credit to them.”

FD, £10m turnover print and packaging business.

ESP Technologies Group

Wednesday, August 12th, 2020

“XL Business Finance have helped us with a range of finance deals over the past 5 years. They have a very professional “can do” approach and have never failed us. In addition to straightforward new machine finance they have assisted with finance on early adopter technology and a variety of refinance deals.” 

Stephen Hood, Managing Director, ESP Technologies Group Limited

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