Close Brothers Asset Finance has announced a financing partnership with Personal Canvas Prints to support its growth.
The quantum of the funding, which was provided by the asset finance firm’s print team, was not disclosed.
Personal Canvas Prints plans to use the proceeds to replenish its stock following a large order. The Corby-based firm designs and prints home furnishings.
Close Brothers Asset Finance stated that the deal was a refinance of existing assets, and it was complete within 24 hours of receipt of required financial information.
Close Brothers Asset Finance print division area sales manager James Margrett said: “Personal Canvas Prints wanted to raise funding to assist with their growth aspirations following a large order from a well-known retailer.
“I am delighted we were able to help Andrew Bourke and the team at Personal Canvas Prints secure the funding they needed for what is an exciting time for the company, and I look forward to working with them in the future.”
Personal Canvas Prints managing director Andrew Bourke said: “I am over the moon that this was achieved in such a short turnaround – it really was above and beyond my expectations. The fact we were able to secure the funding so quickly alleviated a lot of potential stress and concern.”
Close Brothers Asset Finance is a part of the merchant banking group Close Brothers Group, which employs around 3,700 people and offers services such as lending, deposit taking, wealth management and securities trading.
Last month, Close Brothers Leasing announced that it will offer a development loan for Pacific Green Technologies’ 99.98MW battery energy storage system (BESS).