GE Capital has seen a boom in its invoice
finance business recently, including two agreements providing more
than £15m of working capital facilities to UK firms.
The company provided invoice discounting,
inventory and plant and machinery loans for a total of £8.35m to
Expamet Building Products, a UK producer of plasterers’ accessories
and builders’ metalwork.
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In a separate deal, it provided £7m to
plastisol and vinyl base manufacturer Speciality Coatings to
support the company’s growth plans.
GE Capital, which focuses on leasing, fleet
management and commercial finance, has signed a total of 12
commercial finance deals with UK SMEs in the past three
months.
The deals confirm a boom in invoice finance and factoring business
across the UK.
GE Capital senior client manager Mark Beaumont
said: “Invoice finance has become the preferred way now for lenders
to provide working capital facilities to businesses. From a
funder’s point of view, it is the preferred way to fund the working
capital cycle of the business, because it is a lot more flexible
than a traditional overdraft.”
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By GlobalDataHe added that leasing remains complementary to
invoice finance.
“Leasing is relevant to businesses that have
capital expenditure programmes, for instance when they want to
invest in plant and machinery, or vehicle fleets – that’s very much
complementary to the working capital type funding that we provide
through the asset based lending side,” Beaumont said.
