£260k Facility Secured

Industry: Security

Turnover: £1.3m

No. Of employees: 20

Region: West Midlands

Overview of the Company: Set up in early 2011 to provide security staff for commercial properties, this business has enjoyed rapid growth. It is achieving its target of acquiring at least two new clients per month and has ambitious plans for continued expansion.

Why they needed finance: “When a new client offered us a major new contract we knew commercial finance was needed to ensure staff could be paid. Because our firm was so new, and we were looking to more than double our staff almost overnight, the bank refused to give us an overdraft. They told us to come back in 12 months time.

We made contact with GPS Business Finance and within two weeks we had an invoice factoring arrangement in place. Without it, we could never have taken on that contract, or won a number of contracts that have since come our way.” Finance Director

How Invoice finance helped their business: “We have 20 staff on our books and may soon require more. They are paid every two weeks but our customers pay us on 60 day terms. Invoice factoring gives us the capital we need to bridge that cash flow gap, and also the capacity to expand as new opportunities arise. We would not have had that flexibility with an overdraft.” Finance Director