When a 40-year-old specialist building service contractor felt its growth had been stymied by its current lender’s complex processes, it turned to broker Jim Davis at Clear Cashflow Solutions Ltd to find a lender that could provide the right funding and level of support that it needs to meet its ambitions.
Why the right funding approach matters
The business provides design, supply, testing and commissioning of building services work, mainly in the Commercial, Health and Education sectors of the Construction industry. With a highly trained and competent staff and a suite of highly regarded subcontractors, it has established a great reputation in its industry and has been successfully trading for almost half a century.
Unsatisfied with an existing Invoice Finance facility, the director contacted Jim to find out whether another lender could be more suited to support his business. Jim explains, “The management team were unhappy with their facility, which required high levels of maintenance with daily information on contracts and a lot of confidential verification, which started to impact on the business’ relationships with its customers”.
The right funding and the best support
Jim introduced the team to Ultimate Finance’s Regional Director Tom Ludden who says, “At Ultimate Finance we have over 22 years of experience providing asset-based lending solutions to businesses across the UK. Our award-winning Invoice Finance solutions are tailored to our clients and directly target their unique business needs. In addition, our model is relationship-driven, which means that a business not only receives the financial support it needs but also has access to dedicated Relationship Managers that make our processes easy to manage so that they can focus on what they do best: keeping their business moving”.
Ultimate Finance tailored a £750k Construction Finance solution that would address the pain points the management team was facing. Tom continues, “We offer a range of Invoice Finance solutions, including sector-specific variants for the Construction, Recruitment and Trade industries. In this instance, our specialist Construction Finance facility offers Invoice Discounting rather than Factoring, which means there is no need for daily reconciliation but rather a monthly process, and minimal confidential credit control which helps free up the team and ease the pressure they were under – the exact reason they came to us in the first place”.
The funding partner of choice
Reflecting on the onboarding process, the director congratulated the Ultimate Finance team, saying, “Well done for helping get this new funding facility set up for us. Through everyone’s teamwork we now have access to a solution that meets our needs and is worth the effort put in by all”.
Find out more about switching to Ultimate Finance’s Construction Finance solutions, which provide up to £1.5m and funding within 24 hours of submitting an invoice or raising an application for payment.
