A structural steelworks business has secured a funding package from Skipton Business Finance’s newly launched asset-based lending (ABL) facility.
The growing West Midlands-based contractor, which has not been named, received £5m in funding comprising of a £3.5m invoice discounting line and a £1.5m Growth Guarantee Scheme (GGS) cash flow loan. The GGS loan provides a flexible and scalable funding solution to support the borrower’s continued growth.
The funding package was designed to refinance an existing facility and provide additional headroom, enabling the business to capitalise on increasing demand and opportunities within the fast-growing AI data centre construction sector.
The transaction marks an important milestone for Skipton Business Finance as it expands its product offering into the ABL market.
Business advisory firm Quantuma supported with the transaction, with Finlay McLoskey, Matthew Freer and Scott Peters working closely with the client to deliver a funding solution aligned to their requirements.
Ben Pittam, regional sales director at Skipton Business Finance, said: “This deal demonstrates our ability to provide flexible, tailored funding solutions that support ambitious businesses as they scale. We look forward to building on this momentum as we continue to grow our presence in the ABL market.”
Finlay McLoskey, analyst at Quantuma, added: “We are pleased to have supported the delivery of this inaugural ABL transaction for Skipton Business Finance. The deal highlights the importance of structuring funding solutions that not only meet immediate requirements but also provide the flexibility to support future growth.”
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