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Capitalflow Commercial Finance commits GBP40m to transport sector

Capitalflow Commercial Finance has announced GBP40 million in finance facilities to support the transport and distribution sector in Northern Ireland as it continues to face mounting economic challenges.

The company, which has already advanced GBP45 million in facilities to a wide range of SMEs, has decided to focus a tranche of its funding to the transport industry.
 
Regional sales director for Northern Ireland, Marc Hawthorne, says: “We think we can make a big difference to the way local transport and distribution firms are funded and we urge them to consider accessing the GBP40 million fund while it’s available.
 
“There is a considerable amount of uncertainty with Brexit on the horizon and the effect it will have on SME’s that trade with Europe.
 
“We’re all waiting with bated breath to see what new trade agreements will be put in place. But there’s little doubt that cost structures and bureaucratic restrictions will change if not increase when it comes to moving goods in and out of the EU, which will of course impact trade between Northern Ireland and the Republic of Ireland and the border with Europe which will particularly affect transport and distribution.
 
“The combination of Brexit and other challenges such as skills shortages and environmental taxes is creating a lot of pressure on the industry, with burdens on cash flow like never before.
 
“We recognise the vital role that the sector plays within the wider economy and that’s why we’ve decided to make this finance available to local hauliers and the distribution network in Northern Ireland,” he adds.
 
Capitalflow Commercial Finance offers funding for new and used vehicles along with equipment finance to support the sector. In addition, it offers working capital facilities by way confidential invoice discounting with property and stock finance.
 
“We have seen a significant level of enquires from the transport and distribution sector since we launched in April. What businesses want is certainty when it comes to investing in their business and we offer a quick turnaround which makes us different to the banks,” says Hawthorne.
 
“The products are designed to leverage the value of existing assets, whether it be invoices, vehicles or other equipment in order to provide an immediate cash injection.”
 
Funded by London-based equity fund specialists Pollen Street Capital, Capitalflow Commercial Finance opened for business in April 2016 with the announcement of a GBP300 million funding pot for SMEs across Ireland.

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