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Family-run Lincolnshire haulage firm Brit-Pol has secured a £2.5m invoice discounting facility, enabling it to extend its export and import markets and establish a new office in Poland.

The international haulier, which collects goods in Europe and delivers to blue chip customers in the UK, as well as in Germany, the Netherlands and Luxembourg, sought financial support from Bibby Financial Services (BFS) to boost its working capital and double its income in the next 12 months.

The invoice finance package it has now been given funds 100% of non-UK debt and contracts outside of the UK jurisdiction.

Brit-Pol, which operates 90 HGVs out of a base in Immingham, said the support would play a pivotal role in its growth:

“We’re thrilled to partner with BFS, the team are really well informed and have been extremely helpful throughout the process,” said Sebastian Zegocki, Brit-Pol MD.

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“The fact they were able to structure a package to fund export debt was particularly impressive, despite the uncertainties surrounding Brexit.”

David McIntyre, BFS corporate manager, said: “Working closely with the management team, we were able to structure a unique facility which exclusively finances overseas contracts, enabling the business to progress its expansion in European markets.

“The team have demonstrated they have the processes in place and expertise to navigate new legislative changes in regard to Brexit, so we’re delighted to be able to deliver a solution that will provide the working capital required for the business to grow in 2021 and beyond.”

Brit-Pol was established in 2011 with just one truck and one customer.

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