When a well-established supplier of carpentry services decided to move away from its current funding provider, the directors were introduced to Ultimate Finance to access a tailored Construction Finance solution paired with expert specialised customer service and further working capital security via a Cashflow Loan.
More to business funding than just finance
The business was set up in the early 2000s and have now spent close to 20 years building a reputation as an industry power force, growing from strength to strength to become a multi-million-pound turnover venture. Having relied on bank overdrafts and loans they later switched to Construction Invoice Finance in 2018 as they discovered the benefits an industry-tailored funding facility could bring to their growth strategy.
Ultimate Finance’s Regional Director Stuart Davies explains, “Construction Finance is a great solution for businesses in the sector as it allows them to unlock the cash that is tied up in contracts whilst looking to take on new ones so that their ambitions need not be slowed down, especially in an industry where it is can take up weeks or even months to receive a payment”.
However, the business discovered that there is much more to business funding than access to money. With the business feeling that the personal touch with their existing provider was waning, they decided to approach their broker to seek a lending partner that could offer a personal relationship and grow with them.
Owing to Ultimate Finance reputation and specialism in funding in the sector, the broker had no hesitation in recommending us to the client.
Introducing the funding partner of choice
Stuart continues, “There were some important criteria that a funding partner needed to exhibit to meet the expectations of the business: we needed to offer a Construction-focused solution so that unique funding requirements of businesses in the industry could be met; it needed a team that understands the sector, how it operates and what challenges and opportunities look like; and it needed excellent relationship management to make sure the facility could lead to continued growth as per the business strategy planning for the coming years.
Here at Ultimate Finance, we pride ourselves on exhibiting all these traits, therefore it was easy to demonstrate how we could help the business and support them to meet their long term ambitions”.
Impressed with Ultimate Finance’s Construction Finance offering and the lender’s reputation for displaying excellence in customer service with an industry leading score of 4.9 out of 5 on independent review website Trustpilot, the business was also keen to explore further funding opportunities via the range of solutions on offer.
Stuart adds, “The business was keen on the availability of an additional Cashflow Loan on top of a £1.5m Construction Finance facility to help support temporary cashflow pinch points both with existing and future contracts, providing a flexible safety net when required. This is where we are really able to help our clients with more than just one funding solution”.
Equipped with the right funding tools and relationship management team, the business is now on track to add several million pounds to its 2024 end of year turnover. Stuart says, “We pride ourselves on the quality of our service, because we know that to be the right funding partner you need to not only be able to provide essential access to liquidity, but you also need to be able to think as an integral part of the businesses you support. Our main differentiator from many other lenders is the care our teams put into the support we provide day after day, and our clients themselves express how much of a difference that has made to their business as per the hundreds of reviews they have already written on Trustpilot.
