Seneca optimistic about business in 2021

Seneca Trade Partners has recorded increased demand for working capital facilities from manufacturers, wholesalers and retailers which the company says is cause for optimism in 2021.

The company has taken on 15 new business clients in the fourth quarter of 2020 so far, in addition to its existing client base, is predicting it will fund working capital transactions of over £18m in the next 12 months.

Seneca says the appetite for finance, which will be used to prepare for increased demand, is a positive indicator of market sentiment and the approach businesses are taking to get the maximum from their own assets.

Chris Divers, Seneca Trade Partners director, said: "Not all business finance requirements are met by the Coronavirus Business Interruption Loan Scheme (CBIL) and by using balance sheet assets more effectively often to complement existing traditional lending or working capital facilities, businesses are switching on to smarter and more flexible ways of financing growing levels of turnover."

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