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Since Close Brothers Commercial Finance began operating in Dublin over 10 years ago, we have been leading the way towards more sustainable funding for Irish SMEs. By offering a varied portfolio of invoice and asset finance solutions, we give firms across the country more flexibility in managing cash flow.

Today, with offices in Dublin, Belfast, Cork and Galway, and a wider team situated across Ireland, we are able to share our expertise regarding funding more effectively than ever before. Our main goal is to support businesses. We work in a range of sectors and appreciate that different-sized enterprises need different levels of support.

For many larger businesses, continued growth is a key objective. However, it can often be a challenge to raise the high levels of working capital needed to fund an acquisition or finalise any major internal changes. That’s where asset-based lending can help.

Asset-Based Lending

Asset-based lending blends invoice finance with funds released against other company assets. It typically offers higher levels of finance for larger companies than many other products, and is commonly used for facilitating strategic plans such as a complete refinancing, an acquisition or a merger. It can also provide additional working capital as required to help support growth.

In Association with

At Close Brothers, we can release up to 90% of the value of unpaid customer invoices. Funding can also be secured against other assets such as property, plant and machinery or stock, and additional cash flow loans are also available. Our asset-based lending solutions aim to give businesses growth opportunities.

€15 Million Facility

Recently, we provided an asset-based lending facility for a food wholesaler that had been trading in Ireland for 35 years. Paul Stephens, Head of Corporate and Asset Based Lending, explains: “This wholesaler needed access to additional working capital to support day-to-day costs and fund a management buy-out. Due to the size of the business, it needed higher levels of funding, so we suggested asset-based lending.

“We combined a €10.5m invoice discounting facility with a €1m cash flow loan secured against company stock. This provided the working capital needed to complete a management buy-out and improved liquidity, which could then be reinvested.

“Since the partnership was established, the company has had significant success, and its facilities have grown in line with its turnover. They now stand at €12m invoice discounting and a €3m stock loan, and the business has been able to expand into new markets.”

About Close Brothers

Close Brothers is a UK merchant banking group providing lending, deposit taking, wealth management services and securities trading. Close Brothers Group plc is listed on the London Stock Exchange and is a member of the FTSE 250. Close Brothers Commercial Finance is a trading style of Close Brothers.

Our core purpose is to help the people and businesses of Ireland and Britain to thrive over the long term. To achieve this, all of our diverse, specialist businesses have a deep industry knowledge, so they can understand the challenges and opportunities that our customers and clients face. We support the unique needs of our customers and clients to ensure that they thrive, rather than simply survive, whatever the market conditions.

• Visit our website to find out more: www.closecommercialfinance.ie

Pictured: Ciaran McAreavey (centre), Managing Director, Close Brothers Commercial Finance, with Adrian Madden (right), Head of Sales for Asset Finance, and Paul Stephens, Head of Corporate and Asset Based Lending