Refinance facility provided by Praetura Commercial Finance Group to food retail brand.

The Challenge

Innovative challenger brand in the food sector requiring refinance of existing facility due to export debt not being supported by their previous funder. The client also needed some additional cashflow finance, above what could be generated from the ledger, in readiness for their peak trading Christmas trading period.

The Solution

Praetura Commercial Finance structured a CID facility with significantly improved debtor concentration limits. Our ability to support the export element of their turnover, which the incumbent high street bank would not, meant Praetura were able to generate additional ‘day-one’ cash in addition to the on-going improved liquidity. The multi-faceted nature of the Praetura group came to the fore with an RLS Commercial Loan provided by colleagues at Kingsway Finance to ensure the business has sufficient liquidity for their busiest trading period.

The Transformation

The client benefitted from a more tailored CID facility, ultimately much better suited to their needs. The ability to fund the export element of their turnover ensured they continue with their expansion in overseas territories, with the backing of a supportive funder. RLS loan was again key in ensuring the business had the correct level of overall support.

Feedback from the client: “We chose Praetura for their ability to get the most out of our sales ledger where we had no appetite from other funders. Praetura were able to unlock more of our customers, whilst remaining competitive. Thanks to Dan for helping us to achieve everything we set out to search for and getting the deal over the line at a pivotal point for us.”

Dan Topham, Sales Director, said: “We immediately understood the business’ vision and were excited to support this innovative, and scaling, business with a much more suitable CID facility. The RLS loan will allow them to continue to develop their burgeoning product range and ensure they have sufficient backing for their peak trading period and continued expansion into European markets.”