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Supplier finance facility helps Glasgow's SSUK target 15% growth

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Glasgow-based audio visual equipment supplier SSUK has secured a £90,000 funding package from Santander Corporate & Commercial, and managing director Keith Forbes now hopes to achieve 15% growth over the next 12 months. SSUK supplies both public and private sector organisations and the financial support will allow it to better target further growth among schools and educational facilities for its range of smart boards and interactive media equipment. It already deals directly with Scotland's 32 councils to provide all of their audio, visual and interactive needs. The Santander Corporate & Commercial funding has provided a specialist supplier payments credit line to SSUK to help finance the purchase of stock to fulfil orders in times of strong client demand, which tends to peak during the February-March budget period. Using supplier payments as an alternative to overdraft facilities, however, means SSUK can now provide payment to its suppliers within five days, significantly improving supplier cash flow and providing a more cost effective funding solution for the business. Douglas Dunlop, Relationship Director, Santander Corporate & Commercial, said: ?I'm delighted that we have been able to provide a practical, cost-effective solution to a highly successful firm such as SSUK, and really help it invest for growth. This is an excellent business and I have full confidence in the management team's ability to expand further.

 

Note: News bulletin content has been provided by a third-party and is not the opinion of Santander.

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