IGF delivers funding package to European Packaging Distributors
IGF has delivered a £650k facility to European Packaging Distributors (EPD), made up of a £500k invoice finance and a £150k revolving cashflow facility.
EPD sought a new finance partner as the incumbent financier was unable to offer the facilities to maintain its cashflow and allow the firm to purchase increased levels of stock from overseas suppliers. Longer term, the funding has allowed the business to support its growth and free up additional funds for its expansion, starting with the hire of two new recruits since the facility was delivered.
EPD is an independently owned provider of bespoke packaging solutions for many industries, including as specialist suppliers to the food and food-service industries, in addition to supplying a wide range of transit packaging from its extensive stock.
Paul Sykes, company director at European Packaging Distributors, said:
“We chose IGF after being impressed by the team’s thorough evaluation of our business and understanding of our needs. The firm has been very proactive from the start, and we’ve found working with them to be a refreshing experience from our previous funding partners.”
Aman Gill, regional sales director at Independent Growth Finance, said:
“We are seeing more and more that small businesses are finding mainstream lenders too rigid to support their growing needs. We saw the business potential in European Packaging Distributors and are proud to have supported its expansion.”