Logistic Designs secures invoice discounting to support cashflow
Logistic Designs Ltd, a Nottingham-based specialist in architectural fabrication and laser cutting, needed a way to keep cash flowing while it built up its order book. With suppliers demanding quick payment and customers taking time to settle invoices, it turned to Evolve Business Finance for a solution.
Logistic Designs manufactures a wide range of steel and metal products. The business serves two key markets – subcontract laser work for industries like engineering, rail and shopfitting, and a growing specialism in audio-visual enclosures, such as kiosks and display monitor housings for retailers and transport hubs. With ten employees and a strong reputation, the company is making its mark in a competitive sector.
As a new start business, Logistic Designs had limited credit terms with suppliers but customers were on 30 to 60-day payment cycles. That left a gap – money tied up in invoices that couldn’t be used to pay for materials, wages and other costs. Without a cash flow solution, growth would be slow and challenging.
Stef Radymski at Evolve Business Finance was introduced to the business and immediately recognised that invoice discounting would be the right fit. This facility allows companies to access up to 90% of their invoice value straight away, easing the strain and ensuring steady working capital.
Evolve connected Logistic Designs with Time Finance, securing a confidential invoice discounting facility. This meant the company could continue taking on new orders without the worry of delayed payments. The process was swift, allowing Logistic Designs to focus on its work rather than chasing invoices.
Kim Wallis, Logistic Designs’ finance manager said: “Evolve did exactly what we needed. Stef is very professional and is clearly well-versed in challenges like ours. He’s a very safe pair of hands and gets things done quickly. The funding has taken a huge weight off our shoulders and means we can keep pushing forward.”
Stef Radymski, director at Evolve Business Finance, commented: “Logistics Design is an interesting business with a strong future. Its ability to manufacture everything from high-end yacht fittings to steel enclosures for ticket kiosks makes it stand out. With invoice discounting in place, it now has the financial flexibility to keep growing.”
Simon Holian, business development manager (invoice finance) at Time Finance said: “We were pleased to support this family-owned business with its growth plans. Having the right working capital partner was important for the team at Logistic Designs, giving them the confidence to take on more orders and scale up. Stef and Evolve Business Finance quickly identified what the business needed, allowing us to deliver a solution without delay. I’m sure this is just the start of a strong partnership with the team at Logistic Designs Ltd.”
With its new facility in place, Logistic Designs is in a great place to expand, taking on more contracts and strengthening its position in the industry.