Secure Trust lays down finance for wholesaler
A Manchester wholesale carpet trader has secured a £150,000 invoice facility to allow it to expand.
DM Miller has increased its facility from £50,000 to £150,000 with Secure Trust Bank Commercial Finance which will significantly improve its cash flow and allow for growth.
Founded more than 25 years ago, DM Miller has achieved steady growth in recent years and is on course for a turnover of £3.5m by 2015.
Lee Olsberg, director at DM Miller, said: "The funding will provide us with the flexibility and cash flow required to be one of the largest carpet distributors in the North West."
Matthew White, regional sales director at Secure Trust Bank Commercial Finance, added: "We are pleased to be helping ambitious businesses like DM Miller that face difficulties in accessing finance from traditional lenders.
"The company has established itself as a leading distributor of carpet to the building and property trade. We look forward to working with the business as it is set for continued growth."
Challenger bank Secure Trust launched its commercial finance arm in September.