Securing £100K working capital for a kitchen cabinet specialist
This month, we are pleased to highlight a successful funding solution that provided a kitchen cabinet specialist with £100,000 in working capital and in doing so, secured the client a significantly improved interest rate.
The need:
Our client, a specialist in the design and manufacture of kitchen cabinets, required £100,000 of working capital to support the day-to-day running of the business. As with many businesses operating in a competitive and materials-driven sector, having ready access to cash was essential to keep operations running smoothly and to allow the client to continue taking on new orders with confidence.
The solution:
NGI Finance quickly went to work and secured an initial offer of funding from a lender to meet the client’s £100,000 requirement. However, rather than simply accepting the first offer on the table, our team identified an opportunity to improve the terms significantly.
We advised the client to bring their filed accounts up to date before proceeding. Once the lender had sight of the client’s current financial position, the improved picture allowed us to renegotiate the deal, resulting in the interest rate being halved from the original offer.
This small piece of proactive advice made a substantial difference to the overall cost of borrowing, ensuring the client secured the £100,000 working capital facility on considerably more favourable terms than they would otherwise have received.
Why NGI Finance?
At NGI Finance, we believe that securing finance isn’t just about finding an offer, it’s about finding the right offer. By taking the time to understand our client’s position and offering practical guidance along the way, we were able to deliver a working capital solution that will support the business well into the future.
For any questions or assistance, please call us on 01993 706403 or email enquiries@ngifinance.co.uk.
