Member Article

Bromborough-based Maxtrac secures £150k funding from Manchester’s Positive Cashflow Finance

Bromborough-based Maxtrac, which has its head office in Holland, has secured £150k from Manchester-based Positive Cashflow Finance.

The vehicle suspension distribution firm has targeted significant growth over the next 12 months.

The funding that was agreed in April has already been used to invest in expanding the existing product range and adding to an ever growing workforce.

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

Accountant, Lewis Cross of Booth Ainsworth LLP prepared the projections and advised on the proposed funding facility.

Director of Maxtrac Julian Rose, said: “We have established ourselves quickly in the UK market but have found that waiting for our customers to pay has resulted in a lack of cash available in the business, which has held us back in the past.

“Having an ongoing working capital facility that will grow in line with our sales gives us the confidence to expand the workforce and target significant growth.”

Sales and marketing director at Positive Phil Chesham, said: “Julian and the rest of the team have a brilliant brand and very exciting plans for the business over the next 12 months.

“We are delighted to be involved with Maxtrac and look forward to working with the management team and assisting them to achieve their plans.”

This was posted in Bdaily's Members' News section by Sophia Taha .