A forward-thinking, environmentally conscious manufacturer of long-distance electric vehicles has secured a six-figure Invoice Finance facility through Navigate Commercial Finance to support its expanding production.
The business designs and builds high-performance electric vehicles powered primarily by advanced battery systems, with future plans to transition to zero-carbon fuel sources. With a strong pipeline of confirmed orders stretching over the next 24 months, the company needed immediate funding to purchase critical component parts and maintain its production schedule.
A substantial Research & Development (R&D) tax credit claim had been submitted to HMRC, but payment was delayed due to well-documented processing backlogs. Recognising that R&D claims can be successfully funded, our team arranged specialist R&D Invoice Finance — a highly niche product.
We introduced the business to a lender with deep expertise in this area who understood both the sector and the nature of R&D tax credits. From initial introduction to funds being released, the entire process was completed in just four working days, with excellent collaboration from all parties.
The facility has provided the manufacturer with the vital working capital required to fulfil its order book and continue driving innovation in sustainable transport.
This rapid, specialist solution demonstrates our ability to unlock funding against R&D tax credits, enabling innovative green technology businesses to maintain momentum despite HMRC delays.
