Business Case
TP24 funds engineering company with £1,000,000 to expand their business
30 May 2024 by TP24 Team
Location: North West England
Industry: Electrical Engineering
Revolving Credit Facility: £1,000,000
Our client
Our client provides strong expertise within the electrical and mechanical engineering space, specialising in power generation and energy management systems.
The challenge
Having already achieved a constant year-over-year 30-40% growth rate, our client has strong expansion plans for the next phase of their business over the coming 5 years.
To sustain this growth and secure large contracts, it is essential for our client to have access to capital. This will enable them to fund staffing requirements without the burden of needing to drain cash reserves.
The solution
TP24 has provided a facility that allows our client to draw down up to £1m on the same day requested. This capability grants our client a significant competitive advantage, enabling them to cease growth opportunities as they arise.
