Venture Finance has provided two former employees of Academy Print Solutions, a Yorkshire based printer, with a funding facility helping it to buy the business back and safeguard the jobs of 18 employees, after its parent company put the business into administration. Venture's solution included Confidential Invoice Discounting and a Small Firms Loan Guarantee (SFLG) which provided important working capital to quickly restart the business and preserve its customer relationships.
 
Commercial lithographic printer, Academy Print Solutions, ran into serious financial problems at the end of 2007 and was placed into administration just before Christmas. Despite this, two members of the existing company could see that the business still had a strong product offering and a healthy client base. With this in mind they took the decision to raise funds and buy the business back from the administrators, and The Print Academy (Yorkshire) Ltd was born.
 
The Print Academy was introduced to Venture through one of its business advisors and the independent invoice financier wasted no time in coming up with an appropriate funding solution. Justin McFarlin, Managing Director of The Print Academy (Yorkshire) Ltd picks up the story: "I am hugely grateful to Venture. We had an urgent funding requirement and Venture acted quickly and professionally to fully understand our needs and then presented a suitable solution. This speed of response was critical in allowing us to secure the business. Critically, Venture's fast intervention has enabled us to save 18 jobs."
 
As the first independent financier authorised to offer the SFLG loan, and having provided it to more businesses than any other, Venture’s experience was invaluable in processing The Print Academy’s loan in double quick time. This provided the initial finanical investment necessary to get the new business up and running, in time to retain the established customer base.

The SFLG scheme is designed to help businesses with a turnover of up to £5.6m by delivering a fast and reliable cash injection. The Government guarantees up to 75% of the loan and Venture provides the finance via its Factoring or Invoice Discounting services, which improve cashflow at the same time. The Confidential Invoice Discounting agreement ensures The Print Academy will enjoy long-tem working capital, as it allows the business to release funding from unpaid invoices without waiting to be paid by its customers.

Fraser Irvine, Business Development Manager, Venture Finance comments: "The SFLG was an ideal solution to provide working capital fast for The Print Academy. We quickly saw the potential for success in The Print Academy’s management team and their business model and were only too happy to offer our assistance. Because of Venture’s experience in the loan’s administration, we were able to turn the job around smoothly and without hold-up. It was particularly gratifying to be able to help the business turn its fortunes around, as well as save a number of jobs. We look forward to a long and fruitful relationship with the new management team."