Positive Helps Paint a Brighter Picture
Rochdale based, Decorative Agents has secured a £40,000 facility from Manchester based, invoice finance specialists Positive Cashflow Finance.
Managing Director, Lea Wrest has over 20 years’ experience in the painting and decorating sector and set up the company in September 2012 supplying a wide variety of decorating sundries such as paint brushes, dust sheets and roller sleeves. His client base is made up of painting contractors, schools, colleges and a wide variety of decorating businesses.
Waiting between 30 and 60 days for customers to pay was making cash flow tight as being a relatively new company, obtaining increased credit from supplies was no always easy to achieve. The business had no funding at the time, so the cash injected by Positive, enabled them to invest in stock and also improve their IT infrastructure.
Lea is vastly experienced in the sector and has built up a base of contacts that trust the goods will be of a high quality and delivered on time. With the funding facility in place, Lea is confident that they can double turnover over the next 12 months.
Lea Wrest, managing director at Decorative Agents commented: “We had considered other types of funding, however invoice finance seemed the most suitable for our requirements as the funding will continue to grow as our sales increase.
“After meeting with Positive, I felt they were best suited to support us as they have a number of clients in similar sectors and understood what we wanted to achieve in the future.”
Phil Chesham, sales and marketing director at Positive Cashflow Finance said: “Businesses like Lea’s need the funding to help them smooth their cash flow as they look to expand.
“We are delighted to support Lea and his business and look forward to assisting him achieve his growth plans.”