STB gives seven-figure invoice financing helping hand

MANCHESTER-based Secure Trust Bank has supplied a seven-figure invoice discounting line for The Great British Card Company, which is looking to boost revenues by £1m during the next year.

The Gloucester-based greetings card designer and distributor has been established for more than 30 years, and in the last 12 months recorded £14m of sales to over a thousand stores, including WH Smith, Wyevale and a number of the UK’s leading supermarkets.

The funding allowed the business to improve its cash flow and add new members to its talented creative design department, bringing the number of employees at the firm to over 140.

The business is also planning an overhaul of major operations, including the installation of a new IT system, as it prepares for the busy Christmas period.

Steve Goulden, regional sales director at Secure Trust Bank Commercial Finance, said: “The Great British Card Company required a finance facility that was flexible, and tailored around the market they operate in. We offered an invoice discounting line that could support the firm’s growth. For an SME to add £1m to its revenue in a year is impressive, especially in a market that is fluid and uncertain.

“We are proud of our work with the team at The Great British Card Company, as we have seen the firm strengthen its offering in many areas. The ongoing relationship we have built with the company will allow us to continue to support this expansion.”
Chris Davies, finance director at The Great British Card Company, said: “As we work in a seasonal market, it was important that we found a working capital provider that really understood our business, offering a facility that could adapt to our needs.”