One80 specialists secured a £450k invoice finance deal for an appliance supply and installation company working for house builders and developers.

The challenge

Spotting a gap in the market, our client founded a company to provide a kitchen appliance supply and installation service to house builders and developers in 2003, providing same day delivery, fitting and installation services via a branch network capable of providing coverage and expertise throughout the UK.

A distinctive USP of the company is its multidisciplinary staff, who are both Gas Safety registered, qualified electricians and plumbers, and therefore capable of delivering a complete installation service.

Payment terms in the construction industry are typically 30 days after month-end, and in some cases can be longer. Incurring monthly outgoing salaries, stock and material costs inevitably created problems, which could only be solved if additional funding could be found to bridge the payment gap.

The solution

The company’s accountant introduced the directors to our One80 experts for help. We immediately recognised the potential of the business and were eager to help them secure a good deal.

To ensure that we were in the best position to advise, we conducted a comprehensive business review, which allowed us to clarify the company’s financial position. The findings from our review enable us to prepare a proposal which would be used in our negotiations with lenders.

Following numerous in-depth discussions with the bank, the lender finally agreed to the terms. We carefully considered other lending bodies but ultimately decided that this particular one was the obvious fit, as they were well versed in the construction sector with an astute view of the whole market. Our client admitted that this was not a lender they would have found themselves without our intervention.