Bibby Financial Services (BFS) has provided a £250,000 invoice finance facility to company Thomas Loughlin, a high-quality print finisher.
BFS is supporting Thomas Loughlin with an invoice finance facility that will free up additional working capital previously tied up with overseas customers in Ireland and the USA. The funding will also help the business alleviate cashflow challenges and allow it to consolidate its market position in the North West.
BFS was introduced to Thomas Loughlin by PMD Business Finance, who identified BFS as an ideal funding partner for the business.
Based in Liverpool, Thomas Loughlin offers print finishing services for customers’ written and visual content. Its core portfolio includes folding and perfect binding, plus a range of saddle stitching services such as miniature stitching, Z-fold pocket booklets, and miniature folding.
The family-run business has a heritage spanning 128 years. Traditionally, it has been the North West company commissioned to support royal visits to the region, such as the State opening of the Mersey Tunnel. More recently, they have worked with brands including Nike, FIFA, Coca Cola and O2.
Lucy Shotter, business development manager at Bibby Financial Services, said: “Supporting family-run businesses with a strong ethos and business model is at the heart of what we do at BFS. Thomas Loughlin boasts a rich history combined with a high-quality service, and we spotted a funding solution immediately.
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“We have provided the business with a cost-effective Invoice Finance facility to ensure smooth cashflow, and we are fully confident it will help consolidate their position as a market leader in the North West and beyond.”
Tony Aspey, managing director at Thomas Loughlin, said: “We wanted to partner with a local, accessible funder that could support our business in a fast and hassle-free way. BFS demonstrated impressive attention to detail and were prepared to be flexible and go to lengths other funders weren’t.
“Receiving customer payment on time and maintaining an efficient level of working capital is crucial to our day-to-day operations, and the invoice finance facility is allowing us to get on with business rather than chasing export debtors.”
In April this year BFS provided a £2.6m invoice discounting funding facility to Morris Line Engineering, an engineering business with two brands – Morris Line Engineering (MLE) and JW Morris.