Propel helps Fentrade finance cutting edge technology to increase manufacturing
“The team at Propel were great in explaining the different finance options available to us. The advice was always honest and practical and really supported us through the decision-making process.”
Chris Reeks, Managing Director, Fentrade
Established in August 2018, Fentrade Ltd manufactures aluminium windows, bifold doors and commercial entrance systems for businesses.
As a start-up company, they knew that being able to provide high volume, top quality products would be absolutely key to their growth and getting the right, high spec machinery in place was crucial in allowing them to achieve this.
Fentrade had ambitious plans for expansion and UK wide distribution but as a relatively new business, the Newport based window manufacturer was concerned that traditional financiers wouldn’t be willing to help them fund the machinery they needed for the expansion.
Propel stepped in and provided asset finance of £25.5k to Fentrade to enable them to buy the much-needed equipment and get its growth plans going, establishing Fentrade as a major new manufacturer in the windows sector.
Chris Reeks added: “The team at Propel were great in explaining the different finance options available to us. The advice was always honest and practical and really supported us through the decision-making process. We shopped around and had quotes from a number of lenders, but we opted to go with Propel because of the support they offered throughout. Our account manager worked hard to get the desired outcome for us and was always professional and accommodating.”
Matt Jones, Head of Asset Finance at Propel, said: “Something that we are hugely proud of at Propel is that we are able to build long-term partnerships with our customers by looking at a company’s future earning potential, and not just past performance, especially with start-ups such as Fentrade. We also know that gaining a leading edge in any industry can often come down to the quality of product and the ability to deliver on time – so we are thrilled that this loan has enabled Fentrade to invest in the right machinery and establish itself in the market and thrive.”
Contact us on 01633 415222 to discover how Propel can help you power your business momentum.