The business – School uniform retailer
– Trading for 10 years
– Sales over £1 m per annum
– Retained proﬁts of £80k
– Capital base of £350k
The customer secures long-term school contracts, which require a minimum stock holding. Not only is the business highly seasonal, but when it wins a new contract it needs to invest in new uniform ranges. The existing overdraft facility is fully utilised, and the bank has no appetite to increase the limit.
UkMG arranged a £75k credit facility to enable new contracts to be taken on and to cover peak trading periods.