Member Article

Positive ensure speedy delivery

Manchester based, invoice finance specialists Positive Cashflow Finance (“Positive”) have provided St. Helens based Logistex Express (“Logistex”) with a £75,000 funding facility.

Positive were introduced to Logistex after their funders at the time informed them they would be reducing the size of their facility. The funding package was in place within 48 hours, meaning the disruption had almost no impact on the business.

The long established courier business specialises in transporting bathroom fixtures and fittings and has recently diversified and now provides a specialist facility transporting tropical fish.

Husband and wife team, Tom and Barbara Reid established the business in June 2002 and last year achieved sales £300,000. With the funding facility in place, they are able to take on more contracts and hope to increase turnover beyond the £400,000 mark over the next 12 months.

Tom Reid, director at Logistex Express commented: “We were left in a very difficult position when our previous funder restricted our facility and were unsure how we would continue to grow the business.

“Thankfully Positive stepped in at short notice which gave us the peace of mind of knowing we had a supportive funder behind us.”

David Smith, managing director at Positive Cashflow Finance said: “We are delighted to have been introduced to Tom and Barbara and look forward to assisting them achieve their goals over the next 12 months.

“Businesses such as Logistex need to know that the funding is available to allow them to continue to grow without the worry of whether the funding could be restricted at any time.”

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 .