Training provider agrees invoice finance deal

19/02/2008

The ILX Group, a prominent provider of training programmes in the UK and around the world, has secured a new invoice financing facility, it has been announced.

Debtor finance has become an important part of how many businesses fund their operations and ILX now has access to around £1 million through its agreement with Barclays Bank.

The precise terms of the invoice-related arrangement are to remain confidential but the deal forms part of a wider refinancing programme worth a total of around £6 million to the group.

According to bosses at the business education specialist, the agreement with Barclays is testament to the strength and prospects of their enterprise.

Lee Everson, relationship director at Barclays Commercial Bank, commented: "ILX Group is a market leading business with a proven management team.

"Their potential for growth is undoubtedly strong and we are therefore delighted to be supporting them with their plans."

ILX was established in 2000 and its various business skills training programmes are supplied to leading companies worldwide, including Cable & Wireless, Vodafone, CITI, as well as the UK Home Office.