Brokerage cuts deal with paper charity

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Brokerage cuts a deal for eco-friendly paper charity

Business finance brokerage Hilton-Baird Financial Solutions has helped The Paper Trail secure financial backing for the further roll-out of its specialist environmentally-friendly paper-based services in the UK.

The company, a subsidiary of Apsley Paper Trail which received charity status in 2000, was founded 15 years ago by local publisher Peter Ingram on the site of the world’s first commercial mechanised paper mill in Hertfordshire. The mill provides a unique activity-based industrial 'exploration' centre for thousands of visitors each year, and recently received £1m worth of backing from the Heritage Lottery Fund to help upgrade its facilities.

However, the management team at the £1m turnover Apsley Paper Trail required additional funding to fully exploit such commercial opportunities further and turned to Southampton-based Hilton-Baird Financial Solutions, part of the Hilton-Baird Group, for advice following an introduction from Mark Wilson of its auditors Baker Tilly.

To accommodate future growth, Hilton-Baird was able to secure an undisclosed invoice discounting facility from Close Invoice Finance.

The facility includes access to a team of dedicated account managers as well as use of a sophisticated online financial management system.

Alex Hilton-Baird, managing director of the Hilton-Baird Group said: “We are extremely pleased to have been able to help The Paper Trail secure funding from Close Invoice Finance. Being a charity, most traditional funders tend to shy away from businesses that historically have been heavily reliant on grant funding. That is not the case with asset-based lenders such as Close Invoice Finance, who are able to provide an immediate cash injection into the business on receipt of an invoice being raised, rather than as has been the case to date, waiting for the invoice to be paid.”