Business Finance has provided the start-up UK arm of leading US titanium importer/distributor with a £750,000 funding package.

Titanium Industries UK Ltd (TUK), the wholly owned subsidiary of US-based Titanium Industries Inc (TUS), started trading in July 2004 and was soon in the position of needing working capital finance to meet its growth expectations. Business Finance’s funding package, consisting of receivables and stock finance, enabled TUK to capitalise on a growing global titanium market, where in 2005 demand outstripped supply.

Hittit Ltd, an innovative new ‘start-up’ company in the sportswear industry, has been given a head start with a £650,000 Invoice Discounting and Trade Finance facility from Business Finance. The funding has provided the company with indefinite working capital headroom, enabling it to hit the ground running.

Chester-based Hittit, which started operating on 1 January 2006, is the trading company for Nomis in the UK. Nomis is a relatively new brand – its products first hit the shelves in 2005 – but has already been named Intersport’s ‘best up and coming sports company’, and is rapidly gaining a significant fan-base in this country.