Rock solid growth in sight for stone supplier with Praetura refinance

The Challenge

A leading wholesale supplier of premium quality stone to trade customers throughout the UK, sought support after its incumbent funder exited the asset-based lending sector. The supplier, who sources granite, quartz, and sintered stone slabs from all over the globe, were looking for a new partner to refinance their existing funding.

The Solution

Praetura Invoice Finance structured a £1.5m confidential invoice discounting facility to refinance their existing funding, and to ensure the business had adequate working capital to continue growth.

The Transformation

The new facility was individually structured to meet the client’s requirements within their specified timescales.

Jeff Greenfield, Sales Director at Praetura added: “We were delighted to support our new client with a CID facility. The growth in the housing construction and home improvement markets show no sign of slowing down and the stone wholesaler continue to serve this sector as a prominent provider. We look forward to seeing the business go from strength to strength.”

The client commented: “We are pleased that Praetura were able to step in and support us with a competitively priced facility to refinance our existing facility and look forward to working together as we continue to focus on growing the business. We found Jeff and the team at Praetura to be very commercial and constructive in their approach.”