Ultimate Finance provides £750,000 invoice finance facility to NHS supplier
The funding allowed the company to continue buying stock and fulfilling NHS orders.
Ultimate Finance has provided a £750,000 invoice finance facility to NHS supplier Forma-Care (UK).
The facility followed a decision by the company’s previous lender to reduce its available pre-payment after sales were lower than forecast.
The reduced funding affected Forma-Care’s ability to buy stock and fulfil NHS orders.
Sarah Harrison, regional director at Ultimate Finance, said: “When a lender tightens availability, it’s rarely just a funding issue – it becomes an operational issue.
“Forma-Care needed a funding partner that understood the rhythm of NHS trading and could provide the headroom required to keep stock flowing and orders fulfilled.”
The facility was structured around Forma-Care’s debtor book, which was fully concentrated on the NHS.
Ultimate Finance managed the transfer from the previous lender and provided Forma-Care with ongoing relationship management.
The funding allowed the company to continue buying stock and fulfilling NHS orders.
Forma-Care aims to generate more than £10m in revenue in the near term.
Harrison said: “A concentrated debtor book can make some funders nervous.
“Our job is to look beyond the headline and understand the quality of the ledger, the operational controls, and what the funding is actually enabling – in this case, continuity of supply into the NHS.
“This is exactly what invoice finance should do: keep business moving while management focuses on execution.”
She said: “As Forma-Care drives towards its next revenue milestone, we’ll stay close – making sure the funding continues to match the ambition.”
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