Midlands Asset Finance (MAF) has brokered an invoice finance deal for haulier Clarke Transport, funded by Siemens Financial Services (SFS).
The deal, which Leasing Life understands to be in the multi-million-pound range, was brokered by MAF business development manager Kieran Swarbreck, who has been with the broker since 2013.
Clarke Transport, founded in 1933, has a long-standing relationship with MAF, which has brokered a number of facilities for hauliers.
Alan Swarbreck, Clarke Transport company accountant, and also related to Kieran, said: “Invoice finance is … a tool that we’ve used for many years to contribute to the growth and success of the company.”
“We required a level of flexibility that [Clarke’s invoice finance provider of thirty years] wasn’t prepared to provide. We were introduced to SFS and were impressed that the team proactively sought to understand our business and develop a solution that would help to meet our challenges.”
“They dealt directly with our previous provider and it went extremely smoothly, despite us having a large number of live accounts. Our customers only saw a change in account number – everything else remained the same for them.”
SFS said it tailored the facility’s rates specifically for Clarke Transport, and included the possibility for the company to withdraw extra funds in the short term if needed.
Clarke’s Swarbeck added: “We were reluctant to change at first, having been with our previous provider for several decades but our whole company is delighted we did, and we wouldn’t hesitate to recommend SFS to other businesses.”
Colin Grimshaw, senior relationship manager for UK invoice finance at SFS added: “Experience tells us that transport and haulage is a difficult sector; companies often operate within tight margins, for example. By applying our knowledge of the industry and tailoring the offering we are able to support this thriving family business as it continues to grow.”