The facility was made up of £100,000 in trade finance combined with a £150,000 invoice finance facility.
The borrower required the funding to purchase a large amount of stock to fulfil a contract with a large retailer.
The start-up firm had initially secured orders from companies such as ASOS, Primark and Urban Outfitters that were of relatively small value and self-funded by the client.
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However, due to the success of the product and the high number of sales, the retailers immediately wanted to place an order for delivery straight away.
The borrower was originally in talks with another invoice finance provider but opted for Scottish Pacific as it could fund both the supplier and customer invoices.
The funding from Scottish Pacific allowed the borrower to focus on securing more sales without worrying about the business’s cash flow.
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