Factoring supports strategic changes at metal firm
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Metal distribution agency Silevon supplies specialist aluminium to the architectural industry. Their materials have been used for some of the UK's most prestigious buildings, including Wembley Stadium, the Canary Wharf Crossrail Project and Blackfriars Bridge.
What did they want to achieve?
A reduced sales portfolio and an unfavourable exchange rate had prompted Silevon to focus on a wider target market. To support their new sales strategy, the business needed improved access to working capital.
How we helped
Our invoice finance team put together a factoring facility for Silevon. Purchasing metals with this newly accessed cash allowed the business to enter the wholesale market and trade more efficiently.
Launching from a standing start, the factoring facility has provided me with working capital to purchase metals and, critically, has enabled me to offer competitive payment terms to our customers.
Both the banking and invoice finance teams have been really supportive of my decision to move into the wholesale arena and it has been great working alongside both divisions to find the most appropriate funding solutions.
Fraser MacIntosh, Director of Silevon