The Client.
A Yorkshire-based domestic and commercial cleaning company, trading since 2014.
The client had started out working on local domestic properties but had recently
picked up a number of commercial contracts, which required funding to support their
expansion plans.
The Requirement.
With commercial contracts being a lot more lucrative, the natural progression for the
business expansion plans was to try and win further commercial contracts.
The business had a number of challenges - recruiting more staff to work at the new
commercial premises, additional vehicles so they could expand the area they covered,
new equipment and funding to help with cash-flow as their business grew.
The Solution.
With various requirements, the expert team at TML Finance quickly set to work to
source the best funding available for each challenge.
An unsecured business loan of £15,000 was obtained over a 2 year term to help with
recruitment and marketing costs.
Two new vans were purchased via an asset finance arrangement, so that the client
didn't have to use existing capital.
An invoice finance facility of £30,000 was provided for the client - this enabled them to
pay their staff on a weekly basis whilst still keeping their commercial clients on 30 day
payment terms, rather than waiting for clients to pay them before they could pay their
staff.
