TSL Express Daily News
The Secured Lender
SFNet's The 81st Annual Convention Issue
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Top 5 Apps for Organizing
Mar 7, 2019If you’re like most of us, we try to stay organized in business and life, but it gets increasingly complicated…
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The Importance of Stretching
Mar 7, 2019Every personal trainer and athletic coach I have ever worked with has stressed the importance of stretching. When working out…
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SFNet's 40 Under 40 Award Winners Panel Recap
Mar 6, 2019Moderator: Samantha Alexander, regional underwriting manager, Wells Fargo Capital Finance’s Corporate Asset Based Lending group and 2016 CFA 40 Under…
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SFNet's Inaugural YoPro Leadership Summit
Mar 6, 2019The Secured Finance Network brought together the next generation of commercial finance leaders for a full day of learning and…
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It’s a Marathon, Not a Sprint
Aug 22, 2018I was recently invited to participate in an executive panel to answer questions from a credit training class comprised of...
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It’s Not Too Late – Five Member Benefits to Cash In On Now
Aug 1, 2018As we hit the half way mark on calendar year 2018, it is a good time to take stock and…
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It’s Time To Break Up With Your Phone
Jul 18, 2018Do I have your attention? Let’s be honest here: do you have the attention span to read this article? Compared…
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Lien Management – What You Need to Know
Jun 6, 2018UCC filing is the cornerstone of all loans and every lien portfolio...
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Potential Impacts of Blockchain on Commercial Lending
Jan 15, 2018By Raja Sengupta, Executive Vice President and General Manager, Wolters Kluwer’s Lien Solutions When it comes to the rising importance…
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How to be a Good Leader
Dec 5, 2017I know what you’re thinking…another article about how to be a good leader? The short answer is yes…but this time,…
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Fintech and Due Diligence – Disruptors and Established Firms Evolve
Oct 30, 2017The fintech sector has gone through a number of manifestations in the past two decades.
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A Commercial Banker’s Tickler Transition Plan
Oct 18, 2017Just do a keyword search for “bank tickler,” and you’ll quickly realize that banks are still heavily reliant on manual…
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Understanding and Developing Your Personal Brand: Four Steps to a More Intentional Career Progression
Sep 5, 2017It is imperative for individuals to have a general idea about their future career aspirations, just as companies should have clearly defined strategies.
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Selecting a Technology Vendor: 3 Questions to Ask
Jul 5, 2017As with anything else at your bank, selecting a technology vendor can be a challenging decision. Users from across different…
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Why Back-Office Lending Automation Enhances Customer Satisfaction
Apr 25, 2017Every bank strives to keep its customers happy. Of course, some institutions are better at achieving this goal than…
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The Lost Art of the Loan Purchase
Mar 2, 2017Purchasing a loan directly from a bank whether at par or discount is a not-often-used technique that is easily…
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Audit Prep: Why a Paperless Approach Makes Sense
Feb 15, 2017How much time does your financial institution spend preparing for audits? We recently surveyed 187 community banks, and the results…
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Back Office Support Services: Helping you approve more clients
Feb 7, 2017How many times have you come across a potential client who’s financials are either not up to date, not accurate,…
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“All Assets” is the Key When Drafting UCC-1 Financing Statement Collateral Descriptions
Jan 30, 2017Even when prepared by outside or in-house counsel, many lenders pay close attention to draft UCC financing statements before they…
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Paper Loan Files: Does Your Bank Know the True Cost?
Jan 12, 2017Sure, there’s a tangible cost associated with deploying an electronic loan imaging system. Software, support, and scanning hardware are just…
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June 8, 2021
Source: FGI
“Working with FGI was incredibly refreshing! We were able to deal directly with a decisive lender, which was exactly what we were looking for. The team was very dynamic and responsive in following our timeline and closing within 30 days. It is a welcome partnership, we see FGI as a long-term relationship and are hopeful for what the future will bring.”
— Gianpiero Repole, Group CEO, Aartee Bright Bar
A renowned Midlands-based UK business, Aartee Bright Bar has a strong history in manufacturing engineering-grade steel bars to customers globally. As one of Europe’s premier bright bar producers, they provide tailored solutions and world-class quality to meet the needs of their clients. Aartee’s unique range of products include Round, Hexagon, Square, and Flat cold-drawn steel bars, distributed throughout the UK, EU, and USA.
Aartee found themselves in an interesting position as the commodity price of steel fluctuated rapidly and dramatically, becoming extremely dynamic and costing more now than in the last decade. This shift has altered their working capital cycle, presenting the opportunity for growth. Aartee needed to find a new lender who could better support their growth plans, address the internationality of their business and provide them with a more flexible facility.
Throughout their search, Aartee was experiencing problems due to the volatility of steel. Many conservative lenders were reluctant to start business with Aartee because of the uncertainty surrounding the commodity, further hindering their plans. They needed to find the right lender who was confident enough with their business management to weather the volatility. Aartee also required a lender with the capabilities to quickly resolve all the nuances their expansion required.
As flexibility and speed were top priorities for Aartee, they turned to FGI for financing. FGI was able to provide them with a £10MM Pound Sterling ABL facility to assist with their capital and growth requirements. FGI’s lending team was able to move very quickly with Aartee, closing the deal within 30 days.
