GapCap are pleased to announce that last week we closed a £1.25m invoice discounting facility for an emergency / non-emergency ambulance service provider into the NHS trusts. The business had previously been using a £1m facility with their existing lender. However due to a recent surge in demand due to the fight against COVID-19, their drawdowns had become limited, restricting their access to crucial working capital.
The private ambulance provider was introduced over the weekend of the 25th April and GapCap were able to turn things around within a 5-day period to release funds the following Friday. GapCap’s Flexible Invoice Discounting facility will allow them to leverage further cashflow at a more cost-effective rate; a timely refinance to help the client and the fight against the C19 pandemic.
Jack Trowbridge, CEO at GapCap added: “To turn things round in such a short space of time goes to show how everyone is pulling together at this difficult time. We are very pleased to support this established business who are providing such a vital service, special thanks to the teams at Nadeus Business Advisory and The FD Centre for all their hard work alongside us.”
Jason Smith, The FD Centre commented: “The team are so focused on getting the job done at the moment, so it was great to be able to introduce them to GapCap who were able to increase their invoice discounting facility so quickly.”
GapCap remains business as usual during the coming months. Any enquiries, please reach out to Jack Trowbridge on firstname.lastname@example.org.