Close Brothers aids growth of global IT solutions provider with £8m invoice finance facility
Close Brothers Invoice Finance is delighted to welcome new customer, Zones UK Ltd, with an invoice discounting facility of £8m.
With the incumbent financier exiting the market, Zones (UK) Ltd sought advice and engaged with Close Brothers Invoice Finance for a facility to support business growth and working capital requirements. Due to the transaction requiring a specific completion date imposed by the incumbent funder, Zones (UK) Ltd needed to find a flexible provider willing to work to a tight schedule.
Trevor Boyd, FD of Zones (UK), said:
“When I first approached Close Brothers it was because I had become frustrated with the quality and speed of communication with two other well-known invoice finance providers. My contact had come well-recommended so I laid down a challenge to beat the other providers’ offers and hit a tight deadline to completion.
“We developed a positive rapport and I was always impressed by regular updates and the speed with which a proposal was put in place.
“From our first conversation, all the way through to completion, I felt assured that we had made the right choice in engaging Close Brothers and I am pleased to now be working closely with the relationship team as we continue to be impressed by the quality of service we receive.”
Close Brothers were able to provide a £8m invoice finance facility and the use of their market-leading, real time online invoice discounting platform, IDeal, providing instant access to cash and automatic month end reconciliation – saving the business both time and money. The deal was completed in 10 workings days from receipt of survey.
Lorne Jonathan, corporate sales director, said:
“When Trevor first approached me he explained his funding requirements and the tight deadline. It was clearly going to need flexibility and a team approach to ensure we could provide the correct and timely solution to win the business. Communication was key and the close working relationship we built with Trevor and his team during the process allowed us to complete on time. It was a pleasure working with Trevor and his team.”