An Essex based Vegetable and Fat Trader & Shipper, which has been trading for 38 years, has secured a £1.3m structured line of credit by GapCap, facilitated by Trade Finance Global (TFG).
Founded in 1981, MW Beer & Co, based in Ingatestone, are major suppliers of edible oils and fats to refiners and food manufacturers in Europe, Asia and The Americas.
MW Beer & Co have been provided with a supplier finance facility (trade facility) to leverage cash flow and finance shipments directly to its customers, giving GapCap the opportunity to assist with growth and work with multiple suppliers. The facility is an increased trading line and sits in addition to MW Beer & Co’s facility with a large high street bank.
Martin Beer, CEO of MW Beer & Co said: “GapCap have enabled us to increase our trade finance in areas where our regular bank line could not.”
Mark Abrams, Head of Trade Finance at TFG, added: “Supporting a family-run business with a strong business model and credible trading facility was key and allowing them to strengthen relationships with suppliers, should allow the company to scale with this new line of business”.
GapCap and TFG have supported MW Beer & Co with a flexible facility to help leverage cash flow. This will be utilized to help consolidate its market position as a leading name in the industry.
Jack Trowbridge, Commercial Director at GapCap commented: “The M.W. Beer & Co transaction is a quintessential representation of the GapCap modus operandi. GapCap have worked alongside a traditional finance line from the High Street to further support the growth of a multimillion turnover business. To be a driving force on the collaboration of the alternative and traditional finance market, supplementing growth to UK businesses, is what we are all about. Our supplier finance product allows businesses to leverage their creditor terms, enhancing supplier relations and their own cashflow; it is a win win product. We have a fantastic long-standing relationship with TFG that has seen multiple clients utilise GapCap for this purpose.”