Independent Growth Finance recently completed an $8 million working capital facility for OTC Europe and a $6.25 million working capital facility for China Industries.
Independent Growth Finance specifically provided an invoice discounting (accounts receivable) facility to OTC Europe, which is an energy commodity brokerage. Jon Hughes, ABL director for Independent Growth Finance, was the sales director for the facility.
“We are excited to be working with OTC Europe LLP, providing liquidity through a flexible [$8 million] AR facility to support growth and corporate developments,” Jon Hughes, ABL director for Independent Growth Finance, said. “The company’s advisors [Steve Netherton and Paul Gorski] worked with us to ensure the facility accommodates the way this leading global energy brokerage works and to give the UK management team a facility that is efficient to operate”.
For China Industries, which is a toys and gifts company, Independent Growth Finance provided a $5.55 million invoice discounting (accounts receivable) facility with an unsecured strip of $700,000. Paul Edmeades was the sales director for the facility.
