Speaking from experience - Manden Accident and Repairs
Manden Accident and Repairs is an automotive bodyshop repairs firm based in Flint, Wales, trading business to business with their main portfolio of work coming through insurance firms and company car schemes. The business has been trading for 3 years and has a forecast turnover of £350k.
Managing Director, Chris Parker, was originally using a recourse factoring facility but was motivated to evaluate alternative funding for his business when the current provider unexpectedly and dramatically raised rates on the facility.
Having been recommended to Cashflow UK by an associate, Chris contacted the team to learn more about the funding options open to him. Cashflow UK conducted a thorough review of the business in order to match Manden Accident and Repairs with a provider that was right for their business and by putting them in contact with a new provider managed to reduce their minimum charges by 60 percent.
Commenting on the service experienced through Cashflow UK Chris said, “Cashflow UK put me in touch with a new lender and I haven’t looked back since. Not only are their rates at historical levels but their service is exemplary. Our new account management team is extremely helpful, friendly and resolves issues quickly. This is all thanks to Cashflow UK’s introduction and continued interaction with us.
“In an environment where reducing overheads and improving processes are key, Cashflow UK have been able to realise these objectives for my business”.
If you have a potential client situation contact Cashflow UK today on 0800 132 156.
One Optical Ltd
One Optical Limited designs, manufactures and supplies prescription lenses and frames to independent opticians across the UK, as well as supplying products to its sister company, Oscar and Fitch – an affordable fashion eyewear boutique founded four years ago.
The company was frustrated by the restrictive funding limits set by their existing provider which were holding back their new product development and expansion plans.
Having found Cashflow UK through recommendation, Managing Director Andrew McDonald, enlisted their services in his quest to find a new provider.
Cashflow UK took the time to really understand the financial needs of the business and listened to the frustrations sited by Andrew with the existing provider. They were then able to match the business with the most appropriate provider to support them in achieving future ambitions.
Cashflow UK set up an invoice discounting facility with a funding line of £250k with a new provider and facilitated a smooth transition between funding facilities. Andrew says, “I was really impressed with the high quality and thorough service we received from Cashflow UK. They listened to our needs and future plans and made sure the new provider was able to meet these and also fitted in well with the ethos of our business.
“Our new funder goes out of their way to help when needed, providing us with a seamless, hassle free service. Our previous funder was unsympathetic towards SME businesses like ourselves and we needed a lifeline which Cashflow UK was able to find”.
Confident in the funding that is now in place, One Optical Limited is rebuilding the wholesale side of their business and are looking to produce innovative new products. The forecast turnover of the business is £1.6m.
If you have a potential client situation contact Cashflow UK today on 0800 132 156.
Countyclean Environmental Services Ltd
Countyclean Environmental Services Ltd, a company focused on providing innovative and affordable waste management services, were already using an invoice discounting facility with a national bank.
Managing Director Mike Walker was originally attracted to invoice finance knowing that his business cash flow would be kept in order, however he was unimpressed with the impersonal relationship the bank offered and the lack of communication with a decision maker.
He therefore came to Cashflow UK for assistance. After establishing the challenges the business was facing with their incumbent provider and assessing their financial needs, Cashflow UK set them up with a smaller, more service orientated bank facility. Within the space of a month not only did Countyclean have a replacement facility that met their needs and service expectations, but they also negotiated a £50k overdraft facility with the bank.
Commenting on Cashflow UK’s involvement Mike Walker said, “Cashflow UK helped by putting us in touch with a more personalised provider that would be more reactive to our funding and service needs. There was a smooth transition between providers and we even met the whole account team who ensured that we understood their systems and processes.”
With long term and stable funding now in place, Countyclean Environmental Services is expecting double digit growth for the coming year and is confident that the future is very bright indeed.
If you have a potential client situation contact Cashflow UK today on 0800 132 156.
