Industry Sectors:

Distribution,

Type of Finance:

Asset Based Lending
Invoice Discounting

Region:

Midlands

Date:

1 June 2016

Invoice finance and a loan was needed to allow the business to grow, move into a 5,500 sq ft warehouse and invest in new machinery including fork lifts and pallet racking. The company had worked with a previous independent invoice finance company which provided a fast and effective service until it was bought by a major bank. Once under bank ownership the company became much more restrictive in its ways of working so Complete Logistics began to look for an alternative lender.

The result

Complete Logistics is now set up in its warehouse next to the M1 in Lutterworth, Leicestershire, with all the equipment needed to fulfil new and bigger contracts. It is now forecast to double its turnover to about £600,000 in the next 12 months. Peter Jackson, managing director of the company said this would not have been possible without the financial support of HH Cashflow Finance.

Complete Logistics was set up nearly two years ago to provide warehousing and distribution from the ‘golden triangle’ of distribution between the M1 and M6 in Leicestershire.

It started as a small operation working with other logistics companies to service clients. As the contracts grew the company needed to grow in line with demand but required financial support in order to lease the warehousing space and equipment. The company’s former invoice finance company was bought by a major bank and rapidly changed to become more restrictive in its lending and obsessed with credit ratings, with no interest in learning about the business and helping it develop.

Peter met Richard Pepler, CEO of HH Cashflow Finance just over a year ago and vital lending was quickly agreed allowing the business to move into its new, bigger home.

Richard travelled to see Complete Logistics in person to find out about the business as well as visiting its key client before drawing up a financial package to suit Complete Logistics’ needs.

Peter said:

“HH Cashflow were just a breath of fresh air. Richard is really hands on and actually wanted to understand our business. It wasn’t like the usual experience in finance of dealing with men in grey suits.

“Richard came to see me, listened to our story, took it in and very quickly went to see our major client, then came back and said, ‘Right, let’s get on with it.’ Since then every time we have asked for support they have provided it.

“Jackie Moody, our client manager, is brilliant. She is always available to offer advice or answer any queries we may have.

“We are now forecast to treble in size this year. We would never have been in this position without the support of HH Cashflow.”

Our philosophy at HH Cashflow Finance is to provide UK SMEs with rapid, hassle free access to cash flow finance.

Our service-led offer is underpinned by a business support package from our friendly, expert team together with state of the art technology, offering clients real time access to their accounts. Our mission, based on combined senior team experience of over 160 years, is to take the worry of cash flow pressure away from business owners, allowing them to focus on growth and client delivery rather than spending valuable time and money on credit control.

    Robin Goddard:  01633 439600
    [email protected]

    www.hhcashflow.co.uk
    Unit 5
Langstone Business Village
Langstone
Newport
NP18 2LH