Positive Support Floline North East
Durham based ducting & drainage suppliers, Floline North East has secured a £150,000 funding facility from Manchester based invoice finance specialists Positive Cashflow Finance (“Positive”).
Husband and wife team, Clive and Denise Gill incorporated the business in 2013 and supply drainage and ducting products to the construction and agricultural sectors. Clive has over 30 years’ experience in the industry and has built up an enviable contact base of loyal customers.
Waiting between 30 and 60 days for customers to pay was holding the business back. The £150,000 funding line provides them with significant funds which they aim to use to reach their goals of increasing turnover by 30% over the next 12 months. Chris Spencer from MI Accountancy Solutions provided financial forecast to demonstrate the viability of the proposal.
With the funding line in place, Floline North East have been able to increase stock levels and ultimately reduce their lead time from receiving orders to making the deliveries. They have built a reputation for excellent product knowledge and for supplying high quality products on time.
Clive Gill, managing director at Floline North East said: “We are delighted to have the funding in place to assist our growth plans of increasing sales by 30% over the next 12 months.
“We felt Positive was the best fit for us as they took the time to understand our business and I now feel confident that we can win more work without the headache of worrying about when customers will pay”.
Nick Chapman, sales and marketing manager at Positive said: “Businesses like Floline North East need the funding available to help smooth their cash flow out as they look to expand.
“We are delighted to be supporting this entrepreneurial developing business and look forward to working with Clive and Denise over the next few years.”