Invoice Finance News – Liverpool business The Printroom UK has received £1.3m in business banking support from Metro Bank.
The facility is made up of £500,0000 of invoice finance and £825,000 of asset finance for the business to purchase a new digital printer.
The package also includes Metro Bank’s business credit card and an overdraft.
The Printroom is based in Sefton, Liverpool and has been serving local businesses and universities for over two decades having been formed in 2003 with a dedicated focus on sustainability. The business employs 20 and turns over £2.3m annually.
The £825,000 of asset finance will see Liverpool business The Printroom install a new Komori B2 five-colour machine to replace its 2008 Manroland B2 press.
The new press will cut the firm’s operating costs and the Komori B2 five-colour machine will join The Printroom’s two new Canon wide-format machines, an Arizona 1360 and Colorado 1600, which were both installed earlier this year.
To make room for the new print machine installations the business extended its factory floor space with a new 465sqm mezzanine floor, which was installed in the spring.
Utilising the Metro Bank invoice finance facility The Printroom UK hopes the funding will allow them to navigate late or delayed payments without negatively affecting cashflow.
John Sheridan, director at The Printroom UK, commented: “The Printroom UK has built a strong reputation for delivering high-quality printing materials to a diverse range of clients including restaurants, universities, and other local businesses.
“Metro Bank’s Asset Finance solution enabled us to upgrade our machinery and, most importantly, solidify our commitment to our current site in Sefton for many years to come.”
Gary Owens, Liverpool local director at Metro Bank, added: “The Print Room is a thriving local business.
“I’m so glad I was able to speak to them about the benefits asset finance and invoice finance could bring to their business model.”
The Printroom UK Ltd stands as a leading force in the printing industry, offering a comprehensive suite of printing services from large format, litho digital and packaging to more specialised print for exhibition stands and vehicle decals.
In addition to Liverpool’s universities, Liverpool business The Printroom also counts local luxury jewellers (Wongs and Christopher James), logistics firm Trinity and Italian restaurants brand Gusto amongst its local clients which see The Printroom seamlessly blend innovation, quality, and sustainability.
