Facility reflects the firms growing reputation as a leading funder of UK SMEs
Advantedge Commercial Finance (Advantedge), a leading invoice finance company has secured up to £100 million in funding to support its ambitious growth plans. The deal comes on the back of a period of strong growth and development for the firm and supports its intentions to become a leading funder to UK SMEs looking to access fast, flexible and straightforward funding for growth.
The deal provided by NatWest ABL and Lloyds Bank Commercial Banking and strengthens the firms position as they seek continued growth through geographical expansion. It follows a series of initiatives instigated by a management buyout in November 2016 and includes a rebrand, the launch of two new offices in Scotland and The Midlands and most recently the acquisition of Henry Howard Cashflow Finance in July 2018 which saw the business take on new premises in Newport to increase its support in Wales and the South West region.
As David Tilling, CEO, says “We’re delighted to secure this increased funding facility of up to £100 million. The ongoing support from our funders is a significant boost to our business and reflects our achievements and their confidence in our future plans. This milestone enables us to continue our rapid growth trajectory and complements our commitment to continuously investing in the business to not only deliver much needed funding solutions but to deliver the very best in client service. The whole team here are very excited about what it means not only for the business but also for our clients”.
Headquartered in the Thames Valley with regional offices in The Midlands, Manchester, Glasgow and the South West & Wales, the business provides fast, flexible and straightforward finance solutions of up to £1.5 million to small and medium sized firms to help them optimise cash flow and drive growth. Established in 2001, Advantedge has grown to become one of the leading privately-owned invoice finance companies in the UK. Having funded more than £2 billion worth of invoices to date, the company currently provides just under £65 million of funding support to UK businesses across a variety of sectors, ranging from manufacturing to security services.
Since 2006, eCapital has been on a mission to change the way small to medium sized businesses access the funding they need to reach their goals. We know that to survive and thrive, businesses need financial flexibility to quickly respond to challenges and take advantage of opportunities, all in real time. Companies today need innovation guided by experience to unlock the potential of their assets to give better, faster access to the capital they require.
We’ve answered the call and have built a team of over 600 experts in asset evaluation, batch processing, customer support and fintech solutions. Together, we have created a funding model that features rapid approvals and processing, 24/7 access to funds and the freedom to use the money wherever and whenever it’s needed. This is the future of business funding, and it’s available today, at eCapital.