Praetura Commercial Finance Supports Ecy Haulmark Limited With Asset Based Lending Facility to Drive Growth
The business had grown substantially and the existing facility was becoming stretched. As such the directors made the decision to actively seek a new funding provider.
Given ECY Haulmark’s 55-year history with its existing bank, the decision of the directors to change the primary funder was not taken lightly. Their choice of finance partner and solution was significant. Consequently, ECY consulted with a leading corporate finance advisor who referred them to Praetura Commercial Finance.
The Directors at ECY Haulmark, said: “What sets Praetura Commercial Finance apart from the banks is that you never feel that you are just a number. Right from our initial conversation, their team looked to understand our business and build a positive relationship.”
He added: “When we met, they were clear about what they could do for us and delivered a flexible facility designed to give us more scope for both further expansion and the development of greater process efficiencies. Praetura Commercial Finance met our objectives and the additional headroom within the transaction has enabled us to build up our stock of excavator attachments.”
Stuart Bates, Commercial Director of Praetura Commercial Finance, comments: “We are delighted to support the management team of this long-standing family business, which has a sound track record of profitability and an excellent reputation in the market. We look forward to helping ECY build on over 5 decades of successful trading and go from strength to strength.”
ECY Haulmark Limited
Confidential Invoice Discounting and Stock Revolver Facility