A North West construction firm building a greener future
£250,000 funding facility
At a glance:
- Construction Industry
- Funding for new division of the business
- £250,000 funding line
- Enabled business to expand quickly
A construction company based in the North West of England was formed in 1992 and consists of 40 people serving clients across the region from their Widnes head office. With four specialist divisions, they are able to offer a diverse range of construction and environmental services to their clients. They approached Catalyst to seek funding for one of these divisions - Energy Services - a sector seeing rapid growth due to the Government's Green Deal scheme. This initiative was launched in 2012 and aims to reduce carbon emissions from UK homes and businesses.
Environmental initiatives are a new concept for funding providers and many don't want to take the risk in an area they haven't worked in before. This didn't put us off. It was clear to us that this was a successful and well-regarded construction company that had the stable footing and gravitas to make this step forward. We were able to help by quickly releasing £250k of funds to them through Selective Invoice Finance. The facility we put in place for them showed them the costs they incurred at all times and there was no contract term or minimum volume at any point. They remained in complete control of how much funding they wanted to access and paid for only the funds they actually used.
This solution enabled our client to fast track the additional work needed as part of their expansion. As a result, they have positioned themselves at the forefront of the Green Deal Initiative in the North West. We are really pleased to have helped this business move forward and make the most of this exciting new opportunity.
'Catalyst were able to offer a bespoke funding package which will allow us to concentrate on the growth of the business knowing we have sufficient funding as and when required.' Managing Director