£220k secured for a major UK supplier for refinancing and working capital purposes...

Full Cycle
Mar 14, 2019
2 min read

NATURE OF BUSINESS

Fruit based ingredient supplier

FUNDING REQUIREMENT

Working capital and short-term loan re-finance

TOTAL AMOUNT

Loan A: 160K / Loan B: £60K

LENDER

Lending Crowd

PRODUCT

Loan secured by debenture

The company may not be a household name, but as much as 40% of new fruit juices and juice based soft drinks found on super market shelves across the UK have their origins in it’s Luton Based Factory.

Breaking the banking deadlock

Following an initial visit to the customers premises, it was clear why this business was at the forefront ofthe marketplace. A combination of technology, machinery and qualified employees have been deliveringfruit-based ingredients to many blue chip customers and high street brands including Britvic, Princes and Wadworth for many years.

Our customer’s CEO comments

“Despite the size and success of our business, we have struggled to work with our long-term bankers. Therefore, we were recommended to Number Eight Business Finance who have been superb in helping us to raise the funding needed. We have now worked with Number Eight for a number of years. The advice and support provided has been second- to-none.”

In response, David Grosse, Managing Director of Number Eight Business Finance,

“I am seeing a trendof well-established and sophisticated businesses that no longer have any confidence in their highstreet bank relationship. This case is a classic example. Following the initial introduction, we met with the directors at their premises and spent time understanding the business. Thereafter, we have been well positioned to provide regular advice and funding when required.”

Number Eight Business Finance is a specialist advisory-led intermediary organisation that is focused onproviding advice to businesses that are either considering finance or believe that their exiting facilitiesare not suitable or competitive. We believe that the majority of business owners need help following the demise of the high street banks and this has been proven in this case and many other case studies.