Metro Bank provides £15m invoice finance facility to Liquid Friday
Metro Bank has agreed a £15m invoice finance facility with Liquid Friday, a workforce solutions company that provides umbrella and outsourced payroll services.
The dedicated invoice finance team at Metro Bank worked closely with Liquid Friday to understand their business and how they can continue to grow. The facility will be used to support Liquid Friday’s expansion plans and new business aspirations. Metro Bank supports UK businesses by providing specialist relationship banking, industry expertise and a breadth of corporate lending facilities.
Liquid Friday is based in Portsmouth and has grown to become one of the leading providers of contracting services in the UK, supporting more than 5000 contractors across more than 400 recruitment agencies.
Mark Nelson, business development director, invoice finance at Metro Bank comments: “Metro Bank is dedicated to relationship banking and providing personalised support for our customers. Our expert invoice finance team understands this industry well and we’re delighted to have agreed this deal to support Liquid Friday’s continued growth over the coming years.”
Colin Gunnell, chief executive Officer at Liquid Friday added: “From the outset, the team at Metro Bank really took the time to understand our business, our values and our ambitions. It’s so refreshing to work with a funding partner that is as forward-thinking and progressive as we are. This new partnership lays a solid foundation for the continued innovation expansion we have in the pipeline, and we’re excited for what the future holds.”
Metro Bank was introduced to Liquid Friday by Redwood Business Finance.
James Bingham, director at Redwood Business Finance said: “Liquid Friday was looking for additional funding headroom to support rapid growth and we knew that Metro Bank would be the best partner. Metro Bank’s lending capabilities and understanding of the sector made them the perfect fit. The team demonstrated excellent commercial understanding of the business and delivered a flexible solution that will support Liquid Friday’s continued growth and service delivery to their clients.”