Our client Rorla Designs had recently started up their own business, manufacturing bespoke furniture. Having been in the trade for many years they knew their market and had identified a gap in the wholesale market which they wanted to take advantage of.
Manufacturing requires equipment, and whilst much of the bespoke furniture is made by hand, specific tools and cutting equipment make the process more effective. Rorla knew they needed certain tools to fulfil their ever-growing order book, but cashflow meant outright purchasing was not an option, even for relatively low-cost items.
Finance options for newly established businesses are hard to find, particularly for smaller amounts of working capital finance. We were able to identify the potential options for Rorla and steer them through the process. Happily they secured the funding, which they were able to use in conjunction with a regional grant, and their purchases have enabled them to keep up with the orders coming in from the increasing list of trace clients.