Premier Invoice and Asset Based Lender Venture Finance has provided Chorley-based Scorpion Automotive Ltd with a £500,000 Assured Confidential Invoice Discounting (CID) package, to facilitate the company's restructuring and growth plans. After being introduced by accountancy firm Cowgill Holloway, Venture wasted no time in assessing the businesses restructuring needs and turned the funding deal around within just six days of introduction. This fast access to finance will safeguard the future of the business and 50 employees.
Scorpion Automotive Ltd is the UK's leading supplier and manufacturer of vehicle security alarms, tracking systems and mobile communication interfaces for passenger cars and both light and heavy commercial vehicles. The company also markets a range of aftermarket reversing cameras and parking sensors, distributing to corporate clients, transport companies and emergency services. Its customers include well-known brands such as Vodafone, RAC and Norwich Union.
