Building a lasting relationship with a South East construction business
£500,000 funding facility
At a glance:
- Existing finance provider unable to fulfil new funding needs
- Funding provided against new contracts
- Doubled funding availability
- Client reuses facility when needed
This South East company offers specialist construction services including plastering and dry lining, suspended ceilings, screeding and external rendering within the residential, commercial and retail sectors.
During a period of growth the business's traditional finance provider was not willing to offer solutions to help the company move forward. Our approach was a lot more flexible. Seeing a well run and responsive business, we were keen to help out. We bought out the previous funder and doubled the facility level immediately. The business was now able to fully realise its potential as new contracts could be taken on with the certainty that working capital would be available to complete them when needed. Our Selective Invoice Finance solution also meant the business retained full control over its costs only paying for the funds it used. Furthermore they were able to decide when and how much funding was needed on a project-by-project basis.
A few years later we were able to help this client again when an unexpected reduction in business activity resulted in a strain on their finances. Being responsive and understanding is key to our client service, and we were able to work through these issues with our client to help find a solution. We quickly helped secure additional funding to see them through this period of slow business activity. We are delighted to have helped where others wouldn't and see this client go from strength to strength.
'The Catalyst finance facility gave us the confidence to take on new contracts and really build the business. From past experience working with finance companies, it was a worry that Catalyst might not support the Company in a difficult period. In fact, Catalyst stood by us and worked with the business enabling us to trade out of the difficulties. Catalyst has done everything they could to make it as easy as possible and to ensure a good outcome.' Managing Director