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Supplier Finance Facility Helps Glasgow's SSUK Target 15% Growth in 2015

Glasgow-based SSUK is forecasting 15% growth over the next 12 months following £90,000 in funding from Santander Corporate & Commercial.

Glasgow-based SSUK, Scotland's leading supplier of audio visual equipment, is forecasting 15% growth over the next 12 months following £90,000 in funding from Santander Corporate & Commercial. 
 
Established over 15 years ago, SSUK has grown into a major solutions supplier to both public and private sector organisations. The new funding will allow the business to better target further growth among schools and educational facilities for its range of smart boards and interactive media equipment. Awarded a place on the suppliers’ list for the Scotland Excel framework for Presentation and Audio Visual Equipment in 2011, SSUK deals directly with Scotland’s 32 councils to provide all of their audio, visual and interactive needs.
 
In the private sector, the firm has also benefitted from strong demand for its audio visual equipment. A recent project involved the installation of a large HD video wall for the Barrhead Travel Group in Glasgow City Centre.
 
The funding from Santander Corporate & Commercial 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. Previously, the firm had been unable to satisfy exceptional demand from schools in the peak 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 SSUK. 
 
Keith Forbes, Managing Director of SSUK, said: “It has been a challenge to cater for all business opportunities, especially to our key educational client base in Scotland. The support from Santander has been excellent, with a full understanding of our particular business and cash flow needs. The new product will allow us to meet demand and grow the business and I’m confident we will achieve a significant uplift in revenues over the next 12 months.”
 
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.”
 
The information contained in our press releases is intended solely for journalists and should not be used by consumers to make financial decisions.
 
Notes to editors

For media enquiries regarding SSUK, please call Keith Forbes on 07970 940 879
 
For Santander Corporate & Commercial media enquiries, please contact:
 
Siobhan O’Shea           020 7756 4189   Mobile: 07789 651 947
Andy Smith                 020 7756 4212   Mobile: 07824 473 338   
 
The Santander Corporate & Commercial press office operates from 8.00am to 6.00pm. Outside of these hours please call 0800 5877708.  

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