Helping a bespoke homeware manufacturer consolidate borrowing and unlock growth
Managing multiple borrowing facilities can become increasingly complex as a business grows. Different lenders, repayment dates and terms can create unnecessary pressure on cashflow and make it harder to focus on growth.
A bespoke handcrafted homeware manufacturer in Wales was facing this challenge. The business needed working capital to support several new projects, but existing borrowing arrangements were restricting cashflow and limiting its ability to move forward.
The Challenge
The business had a clear and achievable growth plan, with several new projects ready to begin. However, existing borrowing arrangements were creating pressure on monthly cashflow and making it difficult to invest confidently in future opportunities.
They needed:
- One manageable monthly payment
- Refinance of existing debt
- Additional working capital to support new projects
The Solution
Working with James Ryan, one of UMi Get Funding’s experienced advisers, the business completed a full review of its objectives, financial position and long-term plans. UMi Get Funding explored a range of lenders, comparing rates, fees, repayment flexibility and overall affordability. Following a full review, three suitable options were presented, allowing the business to choose the facility that best aligned with its objectives.
The recommended facility offered:
- No arrangement fees
- No early repayment charges
- Competitive interest rate
The Outcome
The business secured a five-figure facility to simplify borrowing arrangements and release working capital for growth, enabling them to:
- Consolidate existing debts into one monthly payment
- Progress new projects and growth plans
With the right facility in place, the business consolidated its existing borrowing into a single monthly payment, reducing costs by more than £400 per month while securing the working capital needed to progress new projects and support future growth.
Facing similar challenges with existing borrowing or cashflow?
Talk to James and the Get Funding team today to explore your options.