News Article

Bank Lending

New Financing Solution Provides Much-Needed Working Capital

By CreditMan Monday, November 24, 2014

Sheffield – (21/11/2014) – Small and medium sized companies struggling to find much-need financing now have a new solution.

It’s an online unsecured revolving credit facility—a funding solution that bypasses traditional banking sources—offered through Enable Finance of Sheffield.

Phillip Evans, the company’s director, said, “No debentures, waivers or personal guarantees are required, and therefore it can be used in addition to existing banking or funding relationships as extra working capital.”

Unlike factoring or invoice finance this supply chain finance facility provides businesses with cash before they have sold or even produced the goods.

The facility gives companies an agreed credit limit, much like a credit card, to spend with their suppliers with a payback period of up to 120 days. Suppliers can be based anywhere in the world and provide any sort of product, service, or raw material. No letters of credit or title over goods are required. Once the facility is repaid it can be re-used again and again in full or in part.

Evans supplies an example showing how a company can enjoy a working capital boost of £1 million. In this example your business takes an average of 90 days to cycle a customer order from the date you need to buy supplies; then finish or manufacture goods and then ultimately get paid.

With a credit facility of £250,000, provided by Enable Finance, and a 90-day cycle, your business would receive additional working capital of £1 million over a 12-month period.

Added Evans, who has been a finance broker for 17 years, “This is a new, faster, more flexible and more responsive approach to trade finance that hasn’t been available from
traditional sources. The online funding solution puts it all together on a single platform, providing the buyer with a pre-approved revolving facility that can be used at any point in the supply chain.”

The facility can be used to finance trade with multiple suppliers. Payments and administration are paperless and transparent via the secure online platform. Participating businesses must be credit worthy, with a trading history of at least two years or more and have revenues over £500,000.

For more information please visit:

Enable Finance provides comprehensive and professional services enabling business owners and brokers access the UK commercial finance market. Unlike other brokers Enable Finance focuses on using technology to provide a service that genuinely makes its customers lives easier.

Enable Finance is Authorised and Regulated by the Financial Conduct Authority, and a member of the National Association of Commercial Finance Brokers (NACFB). Enable Finance and are trading styles of Enable Corporate Strategies Ltd.

Enable Finance, Cooper Buildings, Arundel Street, Sheffield. S1 2NS Telephone: 0114 2945 046