Bank confirms inventory finance support for start-up businesses in its core sectors, differentiating it further from key competitors
DF Capital today announced that it is designating £30m of inventory finance facilities for start-up and young businesses across its key industries this year.
The initiative will see credit made available for early-stage dealers and distributors in the agriculture, materials handling, industrial, lodges & holiday home, motorhome & caravan, motorcycle, marine, and transport sectors. It is designed to deliver extensive support for entrepreneurship across the UK and provide the assistance that businesses may have otherwise struggled to get through a traditional commercial loan.
Championing industry growth is DF Capital’s raison d’être. Since its inception in 2016 as a specialist bank, its goal has always been to help businesses across the UK achieve their ambitions. This is done by providing both SMEs and larger organisations with innovative and flexible finance solutions, allowing them to better manage their cashflow, inventory and achieve order book growth.
Furthermore, DF Capital ensures that it is easy to do business with by leveraging technology to deliver its services, resulting in nimble application, approval and onboarding processes and rapid access to capital.
Andy Stafferton, chief commercial officer at DF Capital, commented: “We want to make sure that these businesses, particularly the early stage ones, have the same access to the finance and support they need in order to grow and flourish. These businesses tend to face the biggest challenges – and more so during the last two years – because typically they do not fit into banks’ traditional credit models. We believe that earmarking such a significant amount of funding will enable the next generation of entrepreneurs to unlock their dreams and help their businesses survive at such a crucial juncture in their lifecycle.”
DF Capital is expecting high degrees of interest in the scheme and has set up a dedicated webpage for firms to find out more information: https://www.dfcapital.co.uk/commercial/start-ups/