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Barry was looking to start his own packaging manufacturing company, but needed the funding to build the business from the ground up. He needed the necessary machinery, but was looking for the right financial assistance to secure the start up equipment he needed.
Client Background
From family legacy to new start beginnings
Barry, an experienced professional in packaging manufacturing industry, decided to establish his own business after working for his family's packaging company for 20 years. In January 2024, he founded a new packaging manufacturing business in Huntingdon, UK, specialising in corrugated packaging for e-commerce, 3PLs, warehousing, resellers, and more.
The Challenge
Securing essential funding to kickstart his new packaging venture
Starting a new business from scratch, Barry faced the critical need for funding to purchase machinery necessary for establishing the manufacturing line. Without the machinery, operations couldn't commence, and large upfront costs posed a significant barrier to getting the business up and running. Barry reached out to Ray McAuley from Millbrook Business Finance to better understand the new start business finance options available to him.
The Solution
How Millbrook Business Finance Assisted
Traditional business loans proved difficult to secure for a new start, making asset finance an ideal solution for Barry's needs. Asset finance provided the means to acquire the necessary machinery without large upfront costs, offering longer terms and higher amounts, even facilitating the purchase of overseas equipment.
Benefits of Asset Finance
● Can be utilised by new start businesses
● Preserves cash flow
● Enables acquisition of high-value assets
● Flexible repayment options
The Results
Asset finance fuels Barry’s new business success
With the help of new start asset finance, Barry was able to purchase the necessary machinery and get the business started. Despite being a new start, the funding facilitated by Millbrook Business Finance allowed Barry to secure overseas
equipment, overcoming the payment in advance requirement. The business could begin operations and trade effectively, where traditional funding avenues had failed.
Summary
Barry's journey to establish his own packaging manufacturing business was made possible with the strategic use of new start asset finance. Millbrook Business Finance facilitated the funding needed to purchase essential machinery,
allowing Barry's business to commence operations without the burden of large upfront costs. This solution not only helped overcome the challenges faced by new start businesses but also set a solid foundation for future growth and
success.
Get in touch to discuss your business financing needs with one of our experts. Alternatively, apply for business finance with Millbrook now for an asset finance solution that can support your new start business.
