An invoice financing deal to increase the turnover of a metals specialist | Southeast offers news
A Thatcham-based sheetmaking company is expected to increase turnover by 30% this year after securing a Â£ 250,000 invoice finance facility from Lloyds Bank Commercial Banking.
Founded in 2017, Mettal UK provides sheet metal design, fabrication and powder coating services to clients in the construction, architectural and creative industries.
The invoice finance facility has enabled Mettal UK to access up to 90 percent of the value of an unpaid invoice. The installation enabled Mettal UK to invest in new equipment, including a flatbed router for cutting aluminum.
Thanks to an increase in industrial production capacity, the company is expected to increase sales to Â£ 1.75million this year.
âSince our launch two years ago, we have quickly built a loyal following in the Thames Valley and beyond,â said George Darling, Director of Mettal UK.
“But in order for us to continue to grow at a sustained rate, it is vital that we are equipped with the latest technology.”
James Kington, Account Manager at Lloyds Bank Commercial Banking, added: âThe Thames Valley is emerging as a leading region for manufacturing in the UK. Specialty manufacturers like Mettal UK are putting the region on the map, while boosting the local economy. “