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£250,000 Confidential Invoice Discounting Facility
Founded in 2012, alloy wheel refurbishment specialist RRT (UK) LTD (RRT) has grown quickly, fuelled by uncompromising quality and service, together with considerable investment in state of the art plant and machinery.
Located in Leagrave, Bedfordshire, with customers across the UK, Europe and Scandinavia, RRT has been able to offer the motor trade a rapid, turnkey, service to get ex hire and fleet vehicles back in circulation fast.
The business has been utilising factoring to smooth cashflow in a sector where 45 to 60-day payment lead times are commonplace. As the business has grown so its original facility has become unfit for purpose. IGF’s ABL Director Jeff Greenfield knew the management team well which resulted in the IGF presenting a new approach that provides the headroom for growth the business requires for its growth trajectory.
IGF has been able to provide a move from factoring to confidential invoice discounting with a bigger facility at more competitive terms. The new facility also caters for RRT’s expanding overseas customer base by encompassing export debts into the package.
Dominic Gross, Finance Director, RRT (UK) Ltd, said:
“Our business is going from strength to strength and we needed better support and more flexibility from our facility. The IGF team made things happen quickly, understood us instinctively and delivered beyond expectations. It is very refreshing to deal with grown-ups who still believe in the personal touch.”
Jeff Greenfield, ABL Director, Independent Growth Finance, said:
“RRT is a great business that is going places. The switch to IGF has put RRT on the right finance road. IGF prides itself on listening carefully and delivering expertly. In this way fast growing businesses can gain the right support both for today and tomorrow, effortlessly.”
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