Absolute Invoice Finance relaunches with £100m fund

CATTLES Invoice Finance was today relaunched as Absolute Invoice Finance, armed with a £100m fund to support business growth.

Based in Manchester, Absolute today severed ties with its troubled Yorkshire-based parent, as the £65m sale to specialist private equity firm AnaCap was completed.

Absolute is offering businesses funding lines of between £25,000 and £2.5m, as it seeks to ease the pressures on growing firms still struggling to access funding.

The firm employs 21 people at its Manchester HQ and a further 40 at two sales offices in Liverpool and Manchester.

Focused on providing cash flow solutions to small and medium enterprises,
Absolute operates from a network of six fully operational regional centres across the UK.

Doug Crawford, chief executive of Absolute Invoice Finance, said: “Despite recent reports suggesting an upturn in the economy, entrepreneurs are still having to battle to secure funding to grow their businesses.

“For start-ups, early stage businesses and even those with long and successful trading histories, that has created ongoing difficulties in maintaining healthy cash flow, let alone planning for future growth.

“With the support of AnaCap, an exceptionally strong balance sheet and a substantial new funding line from Lloyds TSB Commercial Finance, we are now an extremely well capitalised business.

“That, together with significant headroom in our working capital position, means we are heading into the market confident and with a fierce appetite to do deals.

“We are committed to providing the same positive and bright future to the UK’s dynamic small and medium enterprise sector.”