White Oak IE ended 2019 on a positive note by supporting a number of new trade finance relationships, spanning several key industries with more than £1.75million in funding just before the Christmas holidays, with business sourced via a number of channels.
Recently, White Oak IE have seen some significant developments to our direct broker channel, especially newly introduced business. This saw us end the year with an additional 20 new brokers, an area we are committed to developing further throughout 2020.
We anticipate that this and the continued focus of our broker relationship team will enable us to continue to develop this offering, helping to support a great deal more businesses to realise the benefits of finance moving forward.
An overview of some of the businesses we have supported can be found below.
High-end lighting deal
Established in 2004, this company provided high-end lighting solutions to the entertainment and commercial lighting industries. They approached us via a broker to fund lighting and related equipment against confirmed orders.
We approved a one-year revolving trade finance facility of £100k + VAT with a 30-120-day funding period.
Audio equipment deal
Formed in 2016, this company specialised in the design and construction of leading stereo and home cinema equipment. We were approached to help fund wall mount brackets over a 45-70-day funding period to a large end debtor and agreed a £270k facility.
Glass supplier deal
Another deal achieved through our broker network was for a glass supplier. Established in 2009, the business had an excellent track record of delivering a quality product into the food and beverage industry.
For this deal the client needed a revolving purchase facility of £400k plus VAT in order to purchase glass jars from an overseas manufacturer and, to help bridge gaps between payment to supplier and raising of debtor invoices. A further £400k has since been approved, bringing the total facility up to £800k.
New Year, new Opportunities for Trade Finance
As we start a new decade, we’d like to remind you that White Oak IE are here to help your clients with their trade finance solutions throughout 2020 and beyond. Our broker relationship executives, Emma and Kieran would be happy to discuss how our trade finance facilities can help your client’s business.
Our unique trade finance product can finance your purchases including VAT, duty and logistics, helping to significantly free up your client’s businesses working capital and creating opportunity for growth.
We can also help you to reduce risk and management time, as we will support the full end to end process for your client.
To find out more, please call us on +44 01245 904066 (UK) or +353 (1) 5634130 (Ireland). We look forward to working with you.