ABOUT GILL BREWERYThe Client Lough Gill Brewery was founded in 2016 in Doorley Park, Sligo. They pride themselves on restoring the lost tradition in a town that once laid host to 5 breweries. The company has enjoyed great success since opening and is now exporting internationally with their range of 5 beers.
THEIR CHALLENGEThe Company quickly entered a high growth phase fulfilling orders worldwide. While the boost in business was a triumph, it left Lough Gill with its capital tied up in outstanding invoices, leaving a cash requirement for operational costs.
BENEFITAccelerated Payments Selective Invoice Finance enabled Lough Gill to accept more orders as their cash was no longer tied up in outstanding invoices. Previously the payment terms in place with their debtors could be up to 90 days and the wait for payment was having a knock-on effect on their ability to fund new orders. Now they can begin to grow quickly with the knowledge that they can receive early payment on these invoices. As Accelerated Payments look at the credit quality of the debtor, Lough Gill have been able to gain access to a much higher level of funding than they would with their bank. They plan to continue to use Accelerated Payments to grow their business
“The solution is perfect for SME’S & Start-ups in a high growth phase as the flexible model allows us to fund our larger orders. This was not a solution our banks could assist us with and the speed with which Accelerated Payments operate will allow us to continue to grow quickly.”