Industry: Civil Engineering
No. of employees: 8
Overview of the Company: Set up in the summer of 2010, this ambitious civil engineering company has begun life specialising in the erection of mobile phone masts. They plan to expand into other products including street lighting and construction.
Why they needed invoice finance: “Our customers insist on 45 day payment terms, which in reality means it can be up to 75 days before we get paid. We need cash to pay our staff and buy the materials needed to complete projects. As a new business our working capital was limited so it was essential that we found a source of finance if we were to get up and running.” Director.
How invoice finance helped their business: “We initially went to a major bank with £120k of orders in hand before we’d even begun trading. But they were dragging their heels and the process seemed to be going nowhere. Fortunately Touch came along and very quickly set us up with Aldermore, who gave our working capital that vital boost through their invoice finance.” Director.
Customer comment on Touch and the lender: “Touch responded to our need very quickly and we’ve found Aldermore to be very professional in their dealings with us. Touch also make a point of staying in contact and make us aware of other products that could be of benefit to us.” Director.