Trojan, a Birmingham-based corporate clothing supplier, has secured new working capital to keep trading after receiving a combined trade and invoice finance line worth £1.5 million from Davenham, an asset-based lender to the SME sector.

Trojan, a Birmingham-based corporate clothing supplier, has secured new working capital to keep trading after receiving a combined trade and invoice finance line worth £1.5 million from Davenham, an asset-based lender to the SME sector.

The clothing company, which specialises in designing and modifying existing corporate wear for large organisations, had recently won a multi-million pound contract with Cenrica Plc but was declined a credit line from the banks to manufacture and import the work wear which was being sourced from a number of countries.

Rob Righton, corporate finance adviser for Trojan, said: “With banks tightening their lending criteria, and in spite of a major new contract, we could not find anyone that was prepared to go that extra mile. We were more than willing to explore different options and with the funding package also providing ongoing working capital, we can continue to go from strength to strength.”

Trojan’s clients include TNT Logistics, Drayton Manor Park and Morgan Cars and Murco Petroleum.