Stories: Selective Invoice Finance

Seeing turnover double within twelve months

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THE CONTEXT

Kenny’s company offered a wide range of industrial and commercial electrical services: everything from installation, maintenance and instrumentation… to motor repair, overhaul and inspection.

They established in 2012 by purchasing a failing business for turnaround. While there was already an invoice finance facility in place, there was a problem: the invoice finance company was not sticking to their side of the agreement.

THE SOLUTION

Kenny’s company needed an effective solution to be able to grow… so they turned to the banks for additional support.

After seeing a great deal of time and energy wasted on false promises, Kenny was directed to Working Capital Partners by their accountants and a funding solution was quickly organised.

With a straightforward invoice finance arrangement in place, Kenny and his directors were able to get back on track and start planning for growth again.

THE OUTCOME

Apart from the number of employees growing to 40 (it was 14), there are also ambitious growth plans in place for 2016; these span a wide range of commercial and industrial sectors.

Kenny says:

We have doubled the turnover in the last 12 months and grown the workforce on the back of the help provided to us by Working Capital Partners. We could not have achieved this without their assistance.

The facility is simple to use and they have delivered everything they promised. The signs are encouraging for 2016 and we have the comfort of knowing that WCP is there when we need them.”

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