What We Do
Unlocking the value of unpaid invoices has become an increasingly important way for businesses to gain access to working capital.
Small businesses owed large amounts by their customers (often larger corporates) can face cash flow issues, as can seasonal businesses with uneven income streams. Asset based finance helps businesses access flexible and much needed working capital that grows with their business.
Our receivables finance and asset based lending team offers a specialist service, focussed on this particular form of lending. We have vast experience in this area, with two of our lead partners, Jon Bew and Andrew Watson, offering combined experience of over 45 years.
We provide detailed advice, tailored to the specific needs of:
- UK and overseas asset based lenders
- Specialist Finance Houses
- Investment funds
- Joint ventures
We act for most of the main asset based lenders operating in the UK, and regularly get invited to speak at industry conferences and to provide specialist training.
Why Choose Irwin Mitchell?
We appreciate the nuances of factoring, invoice discounting and asset based lending arrangements compared to term loans or cash flow facilities and have written a large number of the standard documents used by the industry.
Our team keep your commercial interests in mind at all times, and use their expertise and market awareness to achieve the best outcome for you. We offer fixed and capped fees for our services wherever possible, after initially discussing the scope of the assistance you require.
Recent Receivables Finance And Asset Based Lending Work
- We advised Lloyds Bank on an £8m funding deal with R Soper, a Lancashire-based textiles manufacturer, which was targeting further expansion. The deal included a £6m invoice discounting credit line, together with a property loan, a plant and machinery loan, and a letter of credit facility
- We advised two divisions of ABN AMRO, based in the UK and Holland, on the part finance of a multi-million pound acquisition of Coventry-based automotive supplier, Covpress. ABN AMRO provided asset-backed facilities in a funding structure that was a first for the company
- We advised Centric Commercial Finance on supporting Arlington Industries Group’s acquisition of Remploy Automotive saving more than 200 jobs, following the government’s decision to sell off Remploy factories
"They are exceptionally experienced in the sector and regarded as legal experts in the industry. In terms of direct dealings key strengths include speed of response/availability, depth of understanding/expertise/experience and a desire to get the transaction at hand completed commercially whilst focusing on key levers and issues rather than seeking to ‘point score’ on irrelevant issues which does little more than hinder the process for all sides."
Centric Commercial Finance
"Excellent service. They have invested time and effort in learning about our business and have shown real commitment to developing the relationship. Advice is concise and commercial and fits the brief. Always willing to give added value advice and often within short timescales."
HSBC Invoice Finance (UK) Limited
"The Irwin Mitchell team’s experience in the UK asset based lending market played a key part in developing a combined package for the customer which provided a sophisticated solution for the financing of the transaction and for their future investment plans."
ABN AMRO Commercial Finance PLC