Member Article

Worsley recruitment firm secures £60k facility to drive sales forward

Worsley based, Driver4Drivers Recruitment Ltd “Driver4Drivers” has secured a £60k funding facility from Manchester based invoice finance specialists, Positive Cashflow Finance “Positive”.

Driver4Drivers, as the name suggests, supply drivers to all types of businesses, but specialise in the haulage and demolition industry throughout the UK. With a focus on the North West, the business was incorporated in January 2013 and achieved sales of £500k in year 1 and is on target to reach £750k next year.

The business pays their drivers on a weekly basis, but has to typically wait an average 30 days before being paid by their clients, hence the approach to Positive.

The £60k facility has replaced the inadequate £10k bank overdraft and the extra funding will allow them to increase the number of drivers at clients and give them the peace of mind that they will have the cash available to pay the staff weekly.

Paul Harding, managing director at Driver4Drivers said: “A lack of funding has held the business back in the past and now we have the facility from Positive, we are able to take on more contracts, knowing we have the cash available to pay the driver’s weekly wages.”

I was hesitant when taking on funding, however I felt that Positive understood my business and were keen to support the business going forward and would provide flexibility as we continue to grow.“

Nick Chapman, Business Development Executive at Positive Cashflow Finance said: “Businesses like Paul’s aren’t able to reach their potential due to a lack of funding and we are delighted to be able to provide the support the business needs.

“Temporary recruitment is a sector we are very experienced in and we have a number of clients that have been able to achieve the growth plans thanks to the support of our facilities.”

Positive is an independent invoice finance provider with offices in Manchester and Birmingham offering facilities from £10,000 to £1m.

This was posted in Bdaily's Members' News section by Nick Chapman .