How ABN AMRO UK is helping Norcott Technologies Ltd achieve its business ambitions

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  • United Kingdom

The continued success of Norcott Technologies Ltd, specialists in electronic design, comes from being able to support its customers develop their own innovative and competitive edge. Here we take a look at how ABN AMRO's Commercial Finance and Transactional Banking teams are working closely with Norcott to help it further its business ambitions.

Partners for Growth

For the last 25 years Norcott Technologies has been providing exceptional electronic design and manufacturing services to a diverse customer base ranging from small technology start-ups to global blue-chip operations.

As part of their continuous expansion, Norcott required a funding partner that would support their working capital and additional funding needs.

Flexible Funding

Norcott has been a client of ABN AMRO Commercial Finance for over 12 years.

A flexible Invoice Discounting facility provides a suitable solution to deliver the additional headroom Norcott requires to accommodate new customers and cover upfront costs needed to process those orders. Over the years the refer limit has grown along with the business and the provision of Bad Debt Protection offers peace of mind in the knowledge that the business is safeguarded against the risk of late and non-payments.

As Norcott continues to grow and gain new contracts for high performance electronic sub-systems for a major international science facility, they have been required to post Performance Bonds to underpin their commercial and technical obligations. Having built a strong relationship with the Commercial Finance team, Norcott were introduced to ABN AMRO UK’s Transactional Banking division, who were able to support with a new Trade facility and Performance Guarantee secured for the next four years.

Helen Adkins, Financial Director at Norcott says,

Having had initially looked at a number of lenders to support our needs, we felt that ABN AMRO was a good fit and haven’t looked back. They are flexible and very responsive, providing strong relationship management and a reliable funding solution to enable growth.

Supporting Business Needs

Over the years the funding solution has been enhanced and extended to provide increased capacity as required to support changing business needs, whilst maintaining a high level of expertise.

The Invoice Finance facility provides ongoing working capital requirements to support continuous growth, whilst the Performance Bond has supported the client in securing new opportunities within the scientific research community - helping to advance the boundaries of human knowledge. Having such a facility in place also means Norcott are able to remain truly competitive and accommodate future contracts.