Funding Bigger Premises
Nile Trading are a natural stone, quartz and porcelain importer based in Hemel Hemstead.
Sector
Wholesale
Location
Hertfordshire
Purpose
Growth Capital
Funding required
Nile Trading required funding to move into larger premises, purchase a new crane and to add to their fleet of vehicles
Scenario
Nile Trading are a natural stone, quartz and porcelain importer based in Hemel Hemstead. In 2018 Nile Trading was becoming well known in the market. To grow they needed funding for new premises, vehicles and equipment.
Problem
They approached their high street bank for funding advice but they were surprised to find that despite being a good customer for many years the bank were very slow in communicating with them. They needed to move quickly and have certainty about their future plans, but they found themselves frustrated by the lack of support from the bank.
Solution
They therefore approached BIZL for advice on the best ways to fund their plans. They needed to finance a move to a larger warehouse, a new crane to lift and shift their stock, and new flatbed delivery trucks. Pratik Shah from BIZL met with the client at their premises to understand the dynamics of the business and their growth plans. He was able to work with the client and their accountant to present a compelling case to an alternative finance provider as well as a leading asset finance provider in order to structure a complete funding package.
"Everything just moved so quick. The service was absolutely amazing. They answered all the questions, they guided us towards getting the best finance deals and we had the money in the bank within no time."