Meet the Expert: Grant Fairley

Here he discusses his favourite part of the role and his predictions for the sector over the coming 12 months.

Briefly tell us about your role and what you do…

I am an Area Sales Manager for Finance For Industry, part of Close Brothers Group. I specialise in the funding of manufacturing equipment using asset finance.

What was your journey to Finance For Industry?

I trained as an Engineer in the defence industry before progressing on from that role to sell CNC machines. Following on from this I moved into the world of finance for Manufacturing businesses which ironically means that I now finance those same CNC machines for our customers that I used to sell.

What’s the favourite part of your role?

The favourite part of my job is being in front of customers, in their premises and factories. It allows me to look at what assistance I can give them through different finance options, I can also see the added benefit I can bring to them through my knowledge and experiences gained in the manufacturing industry.

Give us an example of a deal structure that demonstrates how you can you help a customer

We were able to offer a new customer a very low-rate finance deal through one of our targeted vendor accounts. When I went to sign the documents I asked for a factory tour, during the tour I noticed that a lot of the machinery was specialist and high value. After signing the documents with the customer, I mentioned that we have the facility to raise funds against existing assets, this led to a re-financing deal in the region of £4million.

I also had another customer who was looking to manufacture similar parts but for a different industry. I introduced the businesses to each other, and they are now working together. In the last couple of months, I have received orders from both companies to the value of around £1m.

What are your top 2 predictions for your sector in the coming 12 months?

I expect that given the current climate the cost of machinery will go up; my customers are also experiencing tighter budgets than they have before. However, historically when times have been tough, Finance For Industry have worked with our customers continuing to offer the support they need, I don’t expect that to change in the next 12 months.

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