Leeds uniform supplier dressed for success with £230,000 funding deal

A Leeds uniform manufacturer has secured a £230,000 finance package to complete £400,000 worth of new orders from a trio of UK universities.

After securing the new orders, family-run Dencowear realised it would need additional funding to finance the advance manufacture of the full range of garments required in all the various sizes.
The management team approached specialist lender RateSetter Business Finance for its funding requirements.

Dencowear said the deal has enabled it to satisfy the new orders and also seek other contracts with potentially higher profit margins.

Managing director Ilan Sherman said: “I was confident that the company’s record of achieving year-on-year profit growth of over 20% will be maintained.

“The finance has allowed us to grow our business, to create more jobs and also to improve our productivity without compromising the level of service.

“The finance has only been in place for a relatively short space of time, but already we have been able to secure more new business with better margins so we can see considerable benefits going forward.”

Tamara Renshaw, credit relationship manager for RateSetter Business Finance, said: “This is a brilliant outcome for everyone because the finance has been used to boost growth and improve productivity. In this case, we were able to provide the finance very quickly, allowing Dencowear to deploy the funds and get on with running the business.”