Funding supports rapid growth
As a budding new company, our client was successful in securing increased orders which, whilst a fantastic opportunity, placed a strain on the cash flow. Therefore, in order to keep up with the high demand, the Managing Director went on the search for assistance.
The catering company was owed thousands of pounds by their clients and because of this the business was unable to grow to its full potential. But our expert team at Hilton-Baird Financial Solutions considered the most suitable options available on the market to fit this thriving and growing business, to enable the company to make the most of the rapid growth they were experiencing.
As time was of the essence we introduced two funders, who were best matched in terms of fit and suitability to the company’s needs. After consideration, the business opted for a recourse factoring facility with a lender who they felt most comfortable with.
Subsequent to the facility being in place for just a short period, the business is flourishing with the extra cash available to them. The business has been able to almost quadruple annual turnover in just under five months.
With cash flow no longer a problem the business has been able to enter new areas of private and corporate catering, including catering for weddings and large public events with a new BBQ menu.