Leading menswear retailer Peter Jackson is on a major roll. After two challenging years, the tailored menswear specialist is now on an exciting expansion journey.
“Because we had access to a debt facility we never let down our supply chain, which meant we could keep everyone employed and the wheels spinning,” says David Jackson of the Peter Jackson menswear retail chain.One of the reasons the business can embark on its ambitious store rollout program is because it has surety about its cash flow because Peter Jackson has a trade finance facility with Moneytech.
This was incredibly important in the COVID-19 pandemic, and meant the business could meet its obligations, even when many markets were in lockdown and retail shops were shuttered.“Moneytech supported us with fantastic flexibility and optionality. Because we had access to a debt facility we never let down our supply chain, which meant we could keep everyone employed and the wheels spinning, Jackson says.
Moneytech has pioneered a new small businesses lending model called asset-based finance, which is the ability to borrow against the assets a company owns.“We are a technology-enabled business with a human touch. Of course, we have the best automated credit underwriting software. But complete automation may not drive the right outcome for small business borrowers.”
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