Invoice Discounting: Strengthening Finan...
We often advocate the use of Invoice Finance to enhance cash flow, particularly for clients facing late payments and lengthy terms. Yet, invoi...
About The Client
The Traddock Hotel is a family run business, situated in the beautiful Yorkshire Dales. Set within beautiful gardens, the building is a stunning Georgian manor house which has been lovingly restored over the years by the owners, The Reynolds family.
Further capital investment was needed to complete the renovation work. The Reynolds needed to install larger kitchen to meet the needs of their growing customer base.
Objectives
Paul Reynolds (the Partner looking after this investment) approached Mulberry Leisure to see if we could work alongside them and their bank, to arrange asset finance facilities for the refurbishment project. The finance solution had to work with The Traddock's monthly cashflow and it needed to be arranged quickly to ensure that the hotel was not closed for long.
How We Helped
We held detailed meetings with the owners of this fabulous hotel whilst liaising closely with the banks and the selected local kitchen equipment supplier (Lakes Catering Maintenance Limited). We then had enough information to approach Aldermore Bank PLC, an exceptional finance company that specialises in asset finance for the hospitality sector.
Within a few days we had an agreement from Aldermore to fund the whole of the kitchen refurbishment. We liaised with the kitchen equipment supplier to collate all of the invoices and the deal was quickly signed up and paid out meaning everything could be delivered on time. Following completion, Paul and his chefs told us that they are all extremely happy with the facility. During this follow-up visit to The Traddock, a loyal customer of theirs told us that the hotel and grounds were looking the "best she had ever seen" and she was planning to book again in a few months time!
