Arbuthnot Commercial ABL funds manufacturer
Arbuthnot Commercial ABL has delivered a cashflow loan to support Precision Technologies International Limited (PTI).
The deal is a cash flow loan and receivables financing facility for the Staffordshire-based leading gear, spline and thread manufacturer.
James Nicklin, managing director of PTI, said: “Arbuthnot Commercial ABL were very impressive.
“Their key decision-makers met with us on site to gain a rich understanding of our business, enabling them to deliver a cost-effective and flexible facility.
“Their speed of response gave us the confidence that the transaction would be conducted quickly and smoothly, without any unnecessary delays or red tape.”
The facility allows PTI to consolidate its previous invoice discounting and mezzanine finance facilities with a single finance provider.
The loan also hopes to encourage PTI’s growth in the motorsport industry and related sectors.
Nicklin added: “The future is looking positive with clear growth plans to expand within our existing sectors and some promising projects on the horizon.”