€1.5m facility limit funding at 80% prepayment.
Refinance of facility from one of the banks. Existing facility had restrictions in terms of debtor concentration limits – largest debtor makes up 40% of the ledger and previous provider would only fund this debtor to 20% which meant approx. €200k of cash funding was tied up in this facility reserve. We were able to provide a facility that funded the debtor to 40% and thus no restrictions and released an additional €170k of cash flow for the business day one of the facility.