Situation

Newable was introduced to a long-established business specialising in the design and sale of mountain bikes and associated products. The business experienced an increase in demand from non-UK customers, leading them to review their access to cash flow support due to the increasing volumes of parts they needed to purchase from their manufacturers in the Far East.

Challenge

Historically, strong sales in the EU have led to demand in new markets such as the US, Canada, and now Australia and New Zealand. The business recognized that although this demand is welcome, flexible access to cash flow is more important than ever.

How we helped

We were able to provide an Export Finance facility of £120k for the company. This facility will provide the company with the flexibility to manage the increased sales levels by ensuring that orders could be placed as and when required.

Results

Our facility enabled the client to continue to grow. The ability to access cash when cash flow demand was at its peak ensured that the solution we provided suited the company’s individual requirements. This support is a testament to our commitment to helping businesses thrive in the face of new challenges.

Social or environmental impact

This deal is a great example of our UKEF-backed facility allowing a UK business to widen its network of customers, which will ultimately benefit the wider UK economy. This aligns with our mission to support businesses in their growth and expansion efforts, contributing to job creation and economic development.