Facility secured by Praetura Commercial Finance Group provides boost for food and beverage manufacturer to expand into new international markets.
The Challenge
Well-known brand in the food and drinks sector, with recent global expansion, required refinance of existing facility. The incumbent finance facility was hugely admin intensive, requiring additional staff to manage, and the client sought an alternative solution which would alleviate this burden plus provide an increased funding line in readiness for their expansion into new international markets.
The Solution
After taking the time to understand the business and develop an excellent working relationship with the CFO, a change of product better suited to the business’ needs was proposed by Praetura Commercial Finance. The resulting CID line provided sizeable cost-savings for the client, in addition to being less admin intensive as the client is able to self-manage the facility. Providing a more than money approach was key in securing the contract as we were able to offer a product specifically tailored to the client’s requirements.
The Transformation
The increased funding line provided additional liquidity for the client’s continued expansion in the US and APAC markets.
Feedback from client: “We were looking for a partner who could grow with us and offer the flexibility to a changing business. Praetura’s personal and easy approach meant they ticked a lot of boxes for us. The process with Praetura was very easy from the onset, Dan Topham and other members of the senior management team made the implementation process very easy and gave us the confidence in a partner that can support our working capital needs – both now and into the future.”
Dan Topham, Sales Director, said: “We were excited to work with the visionary entrepreneurs of this rapidly expanding company, whose ethos and ethical vision very much align with the Praetura brand. We are delighted to have supported the business by providing an efficient product much better suited to their needs and look forward to continuing to support their growth story.”
