Recruitment business Challis Recruit Ltd supplies skilled staff into the Construction and Engineering sectors. Faced with growing demand, the business needed a funding partner that could match its pace and ambitions.
From roadblock to runway
Challis Recruit was with an incumbent funder who wouldn’t approve the required credit limit on their top debtor and was unwilling to increase their overall facility limit. At the same time, the business was moving premises and needed additional working capital to complete the move smoothly. The result was a cashflow squeeze that risked slowing delivery and growth.
The business was introduced by broker Mark Critchlow from Clearview Corporate Advisory to Vinnie Dobie, Regional Director at Ultimate Finance. After gaining a thorough understanding of the company and its ambitions, the Ultimate Finance team put in place a tailored solution providing:
- A £350,000 Invoice Finance Facility with Debtor Protection to replace the existing facility, assist with ongoing liquidity requirements and offer additional peace of mind in the event of non-payments
- A £40,000 Cashflow Loan to support the ongoing premises move
- Approval of the key credit limit on Challis Recruit’s top customer to remove a strategic pain point
- An increased facility limit aligned to sales ambitions going forward
“We saw a strong business being held back by inflexible limits. By pairing an Invoice Finance solution with Debtor Protection and a targeted Cashflow Loan, we unlocked immediate working capital and covered the costs of the move – all agreed and paid out in under a week”.
Vinnie Dobie | Regional Director, Ultimate Finance
“Ultimate Finance are pragmatic and decisive. We’ve trusted them for six years because they deliver exactly what clients need – fast approvals, flexible structures, and minimal fuss. On this occasion, they approved the key debtor limit and completed in just days”.
Mark Critchlow | Clearview Corporate Advisory
Building on strong foundations
The new facility is already supporting day-to-day requirements and ensured a smooth premises move. With the top-debtor limit approved and the overall line increased, Challis Recruit now has the capacity to take on more work – and sales have already started to climb.
“Once the funding matched the opportunity, momentum followed. The team can say yes to more projects, confident that cashflow is working with them, not against them”.
Vinnie Dobie | Regional Director, Ultimate Finance
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