The business provides cable pulling and troughing to the railway industry via the large railway contractors.
Their bank was unable to assist in providing a suitable cash flow solution because the work was contractual and they received stage payments. This is a common problem faced by many contractors in all areas of the construction industry that are seeking cash flow finance.
Their customers were of a good quality but unfortunately they were slow payers which caused cash flow problems as our client was paying wages weekly.
We were able to find a lender that understood the sector and was able to provide cash flow finance by way of invoice factoring to the business.
This enabled the business to grow knowing that they could meet their weekly wage requirements.