Enness recently had the pleasure of working with an up-and-coming business in the sportswear and merchandising industry. The business approached Enness with the need for funding an incoming stock order. Once we spoke to the client, we found out they also had an extensive debtors list which we could leverage as a part of a larger funding package, which they thought wasn’t achievable.
The challenge we faced was that the business had only been trading for 12 months and was making a loss. The company also had a small invoice finance line which the new funder would need to fully clear along with any security.
As there was a narrative around the loss and a clear path of how funding would revolutionise the business, we were able to negotiate a £1.3m funding package. The facility was broken down into £600,000 to purchase incoming stock and £700,000 Invoice Finance line. The unsecured loan was priced at a flat rate of 15% per annum, and the invoice finance was 3.6% +base.
Please get in touch for more details about this and how we can fund your business.
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