Expansion strategy builds footprint for Close

Advisers and finance brokers throughout the UK and Northern and Southern Ireland are now able to trial Close Invoice Finance's professional and personal approach to invoice finance on their doorstep following significant expansion of our branch network.

Buoyed by the success of our Northern Ireland operation - which is already six months ahead of its new business target since the launch of the Belfast office in April 2007 - in January 2008, we decided to develop a presence south of the border, too. The move into Southern Ireland is now in the first stage of its dynamic development with the appointment of local invoice finance expert Cathal Ryan as Regional Sales Director. Cathal, who had been with Ulster Bank for the past 20 years, will work closely with the highly successful Belfast team, with the plan being to grow the business - headed up by Commercial Director Harry Parkinson - in the Greater Dublin area initially.

David Thomson, Chief Executive of Close Invoice Finance says: "Given the current global credit crunch, SMEs throughout the UK and Ireland are collectively tightening their belts. At a time when levels of uncertainty about funding and capital expenditure are growing, securing a reliable source of cash flow is a must."

He continues: "We are already seeing this happen in the UK and Northern Ireland and, having taken a good look at the Irish market, we're convinced that there's an opportunity to deliver a bespoke service to clients who only really have their bank to turn to when things get tough. Whether they're based in Dublin or Doncaster, Invoice Finance is a smart solution for SMEs who need certainty, need to plan and need a reliable and regular amount of working capital."

In March we also expanded our footprint with the launch of a new regional commercial centre in Birmingham. Close has been active in the local market for 25 years and Midlands' business has grown to 15% of Close Invoice Finance's current client base. For this reason we've taken the strategic decision to open an office in the heart of the Midlands' business community to best serve existing introducer & clients and capitalise on new business opportunities available in the region.

The Midlands Team

The new office suite is located at Vienna House in the Birmingham International business complex just five minutes walk from Birmingham International Station and Airport. A highly experienced local team headed up by Simon Carter - who has worked for Close for the past 18 years - will serve Birmingham and the wider Midlands region including Wolverhampton, Coventry, Walsall, Dudley, Worcester and Leicester from the new base.

"The opening of our new office in Birmingham demonstrates our commitment to growing businesses in this important region and means our local clients can be sure to have access to great services - such as IDeal, our online reconciliation solution - right on their doorstep."

If you'd like to find out more about how Close's portfolio of invoice discounting and factoring services can support your business please visit www.closeinvoice.co.uk or call 0800 220 257 to discuss your requirements.