Asset Based Lending: Lender of the Year

Leumi ABL scoops Asset Based Lender of the Year - UK’ for the third successive year in ACQ Magazine’s Country Awards for Achievement 2011.

Here are some of their Deal Highlights:

• BIMBO of Ash and Lacy Building Systems - total ABL package of £6.85m, comprising a £5.75m invoice discounting facility, £0.75m stock finance plus £0.35m plant finance.
• MBI of Dawson Home Group – an eight-figure ABL deal, consisting of an invoice finance facility and stock finance.
• Refinancing of Stehlin Hostag Ink UK - £3.5m invoice discounting facility.
• Lambson Building Products Limited - Increasing numbers of opportunities are benefiting from Leumi ABL’s ability to put in place a jointly structured funding facility with Bank Leumi (UK) plc. In this deal we worked together to provide a total funding facility of £9.44m.

For more information on how Asset Based Lending could help your company achieve the growth it deserves please contact Enable Corporate Strategies or follow the links to find out more. 

Credit Card Factoring, Loan advance against Future PDQ transactions

Enable Corporate Strategies is pleased to announce a new lending facility designed specifically for retailers or businesses that take payment for goods or services via credit card processing machines and PDQ terminals. 

The business loan facility is the quick and easy way for your businesses to obtain funding based on their future Credit or Debit card sales without having to change their existing PDQ provider.

Typical Business Loan Criteria 

• Company needs to have been operating for 12 months
• Need to show 12 months card processing statements
• Must have more than 1 year left on lease
• Must be in good standing with their credit card company

If you are interested in finding out more about this technically unsecured business loan please call Phillip Evans on 0797 0500425 or apply online at Enable Corporate Strategies. 

Business Loans Video From Enable Finance

Here is a great business finance and loans video for just a quick overview of some the business loans and commercial finance solutions available from enable finance 

The video covers:

• Invoice Finance
• Asset Finance
• Commercial Mortgages
• Leasing 

I hope you like it... please feel free to leave a comment below. 

Bank Leumi Buys Coface Clients

In a deal completed on 11^th October 2011, Leumi ABL Limited, the asset based lending subsidiary of Bank Leumi (UK) plc, has acquired a portfolio of clients from Coface.

Commenting on the acquisition, Paul Hird, CEO of Leumi ABL, said: “This is another exciting development for the Leumi ABL team and builds on our very successful growth to date.  We very much look forward to welcoming the Coface clients who will be joining us.”

Phil Woodward, Managing Director of Leumi ABL, added: “This deal continues our growth strategy and follows our purchase two years ago of the Charterhouse Commercial Finance client book.  Since launching Leumi ABL five years ago, we’re proud to have built a strong reputation in the mid tier deal making arena.  We are very pleased to be able to extend our offering to assist the growth of these additional clients, whilst offering the flexibility, speedy decision making and personal approach for which we are known.  As with our existing clients, Leumi ABL’s full asset based lending capability will be available to support these new clients as their business needs evolve.”

What is Asset Based Finance? its an alternative way to fund your business growth using assets such as stock, plant and machinery and sales ledger to leverage cash back into the business.

Martin Risman, formerly of Coface, has recently joined Leumi ABL as Regional Sales Director where his new role will involve overseeing the successful integration of the new clients within the Leumi ABL team and providing ongoing client relationship management from the Brighton-based head office.

Xavier Denecker, Managing Director of Coface in the UK and Ireland, said: "Coface is discontinuing its receivables finance activity in the UK to focus on its core business, trade credit insurance.  We are confident that our receivables finance clients will find at Leumi ABL the business understanding and quality of service they appreciated at Coface.  We look forward to developing with Leumi ABL a strong partnership between receivables finance and insurance."

Coface were advised and supported by Rupert Rawcliffe of Grant Thornton and Paul Scrivin-Wood of ABL Resourcing.

Ashley Commercial Finance Goes For Market Share

Ashley Commercial Finance Ltd is reducing its pricing on all new invoice factoring deals in order to increase market share. Ashley is also offering three-month trial agreements for clients signed up before 30 September 2011. Jonathan Cranston, managing director, commented “The factoring market has become increasingly competitive over recent months and we had to respond. With our recently increased funding ability we are looking to accelerate new business acquisition and our mantra is always allow Ashley to quote, no matter how attractive rival offers appear to be”. For more information on invoice factoring or for a free quote to see if it would help your

Asset Finance – New MD at State Securities Ltd

Philip Davies has been appointed Managing Director of State Securities plc.

Philip has had a long and distinguished career in the leasing industry, beginning in 1982 with computer leasing company, United Leasing. Since then Philip has held directorships at Chase Manhattan Leasing and Five Arrows Leasing Group where he was a founding director. He has enjoyed a variety of roles at Five Arrows over the years including close involvement in the purchase of Fineline Media Finance, State Securities plc and Print Finance.

In 2004, he was appointed Managing Director of the Group’s UK broadcast and IT equipment finance subsidiary, Five Arrows Leasing Limited and since 2006 has held dual responsibility for this and the Group’s specialist back office outsourcing business, LPM Outsourcing. Philip has now left LPM Outsourcing and has been appointed Managing Director of State Securities plc. He remains a Board Director of Five Arrows Leasing Group Limited and all the other group subsidiaries.

Bibby Factors Have Record Growth

In what can only be described as a challenging economic climate, Bibby Financial Services continues to triumph in these challenging conditions supporting an historically high number of businesses across a variety of industry sectors with bespoke cash flow solutions.

Globally, the business was delighted to record a 25% growth in new business year-on-year and hit the 5,000 client milestone, factoring £5.8bn debts around the world.  This led to a record 84% growth in pre tax profits to £34.4m.

This strong year-on-year growth has been achieved through our agile and flexible approach to new business resulting in us supporting over 3,800 businesses in the UK and securing one in seven new deals in the domestic market, building our reputation as The leading independent who has the capability, experience and a ‘can do’ attitude to write deals where others cannot.

Having made a number of operational improvements over the last 12 months, we have not lost sight of our ambition to become the world’s largest independent factoring company, or our determination to continuously strengthen our offering to our clients.

We are proud of the results we have achieved and will continue to progress our already strong position in the UK marketplace where we continue to outperform industry rivals year-on-year, and look forward to the rest of 2011 and the long term future.

Edward Rimmer
UK Chief Executive