From Farnborough to the Far East: did you lend to this glass fibre specialist?
For our latest case study we visited Composite Reinforcements in Hampshire, who specialise in the distribution of glass fibre and raw materials. The products are used by the plastics industry across the world for a range of sectors, from transportation and logistics to military and construction.
Business owner Bob Barham needed to access finance quickly to fill working capital requirements, and was signposted to Funding Circle by his bank manager at RBS Natwest.
Bob commented, “This experience with Funding Circle has really strengthened our relationship with the bank. Being a trusted partner, you [James Starr, Relationship Manager at RBS Natwest] have the experience to signpost different alternatives for us to explore. Thank you for the introduction, we owe you one!”
Funding Circle was the first peer-to-peer business marketplace to announce a formal referral partnership with a high street bank, and partnered with RBS in January 2015 to help small businesses across the UK access the finance they need to grow.
Since launching in 1998, Composite Reinforcements has rapidly grown to become one of the leading distributors of glass fibre, specifically acting as a partner for large users. Bob told us being a low cost, agile, small business gives them a competitive edge. In October 2015, Composite Reinforcements took out a £150,000 business loan to pay a manufacturer early and take advantage of a rebate which covered the cost of the loan.
In this short video you’ll meet Bob, find out about the supply chain involved in the distribution of glass fibre and the importance of the Yangtze River in China:
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