Member Article

RBS Invoice Finance prescribes finance solution for Kent pharmacy supplier

An established Kent pharmacist, has created capacity to expand its wholesale business from its premises in Chatham, thanks to a £125k Factoring facility provided by RBS Invoice Finance.

Muhammad Taha Sohawon is a fully qualified pharmacist and has been running his Palmers Pharmacy business in Chatham for 16 years. Muhammad utilises the upstairs of his premises on Palmerston Road as a warehouse facility to supply South East pharmacists with drugs and medicines at competitive rates under the company name Centurion Park Pharmaceuticals Ltd. Two employees distribute the supplies across the South East, which is rapidly growing North of London.

The wholesale side of the business has been trading for 18 months and with the Factoring facility now in place, this will allow Muhammad to take advantage of bulk buying certain drugs with the ability to pass these savings on to his expanding customer base.

Muhammad Taha Sohawon, Director of Centurion Park Pharmaceuticals Ltd, said: “I was looking for a financial solution that would allow me to purchase discounted stock in bulk and avoid heavy interest charges. The Factoring facility achieves this and is also benefiting my customers too, which is resulting in repeat business.

“The demand for our services is increasing each month and our reputation is expanding across North London and beyond. The aim is to continue growing geographically, which will no doubt lead to further conversations with RBS Invoice Finance and my banking team at NatWest.”

Steve Taylor, Business Development Manager at RBS Invoice Finance added, “We were approached to support Muhammad’s next phase of expansion and we are delighted our source of finance could play a positive role in securing further stock to grow this successful business. Muhammad has recognised a gap in the market and we wish him all the very best as he continues to gain momentum across the UK.”

This was posted in Bdaily's Members' News section by Ellen Forster .