Successful funding for a UK-headquartered piping supplier
A well-established UK-headquartered piping supplier was attempting to establish a stand-alone operating subsidiary in the US. The US subsidiary did not have adequate capital to accept and fulfill several large new purchase orders from its customers. US lenders declined to provide financing because most of the parent’s business was located in the UK.
Franklin Capital provided the US subsidiary with a USD$1,000,000 factoring facility that allowed the US subsidiary to accept the large contracts and grow their US based business.
“After struggling to get support from our corporate bank due to the size of our business, we were referred to Franklin Capital. They have helped us with short-term financing to bridge our cash flow. We have found it easy to work with Sue and her team to set up the facility, which has offered great flexibility. Since Franklin is not a large bank, I feel they have truly been able to take an interest in our business, and I know I can always pick up the phone to speak directly with someone,” stated the Operations Director, for the UK headquartered piping supplier.
With the financing from Franklin Capital, the company now has the short-term cash flow they need. They expect to be in an excellent position to grow their business.
“We were excited to have the opportunity to help this amazing international company. Franklin’s experience helping companies headquartered outside the US access customized financing programs was key to this successful partnership. Our experience allowed us to provide them with the financing they need to grow their US business,” commented Sue Duckett, COO, Franklin Capital.