£ 100million funding for national bill finance company | News about offers from the Center and the East
A national bill finance company, which is headquartered in Wallingford with offices in Birmingham, Manchester, Glasgow and Newport, has secured a Â£ 100million finance facility from Lloyds Bank Commercial Banking and RBS.
Advantedge Commercial Finance provides invoice financing, invoice discounting and bad debt protection services to support the growth of small and medium businesses.
This new financing package will support Advantedge’s ongoing expansion strategy and follows the recent acquisition of Henry Howard Cashflow in July 2018. The acquisition allowed Advantedge to expand into new premises in Newport to strengthen the support it can offer to businesses in Wales.
Established in 2001, Advantedge has funded over Â£ 2 billion in invoices to date. It currently provides over Â£ 60million in financial support to UK businesses in a variety of sectors, from construction to catering.
Advantedge Managing Director David Tilling said: âIn line with our ambitious growth strategy, funding from Lloyds Bank and RBS will provide us with the working capital necessary to drive our expansion, while continuing to provide exemplary customer service. . More businesses will now be able to benefit from our fast, flexible and easy financial solutions, enabling them to prosper. “
Martin King, Director of Asset Lending at Lloyds Bank, said: âThe support we have provided to Advantedge will help the company achieve its growth aspirations and move the business forward, without impacting day-to-day cash flow. day.
The Advantedge facility is part of Lloyds’ pledge to lend up to Â£ 18 billion to UK businesses in 2019.