Winstanley & Co Ltd.
Winstanley & Co Ltd have been in Pershore in Worcestershire since the 70’s, and are a fully established business within the community. With a strong workforce of 125, Winstanley manufacture for the rail industry and for the train manufacturers which are left within the UK.
The business sourced half the funding for their new plant from The Carbon Trust, as it is much more energy efficient than their previous plant. Unable to match the other half, Winstanley looked to Lloyds TSB Commercial Finance for a solution.
Confidential Invoice Discounting is how the business is funded, with no overdraft required. Rod Smith, Managing Director says:
‘We had a very good offer from Lloyds, regarding the service fee, which was quite low. I think that reflected the fact that we didn’t have a huge customer base. We had a small number of customers, but all high quality and pretty well blue chip, that was reflected in their rate which I thought was very wise of them. It gave us the best deal.’
LTSBCF Client Manager Claire Carr, visits at least every few months. Winstanley needed a higher concentration limit on bigger customers and although difficult to arrange, Claire settled the required deal and enabled them to keep funding the business through Invoice Discounting.