Finance specialists sparks growth plans for electrical contractor
A Durham-based electrical, fire and security contractor, ACA Electrical Ltd, has revealed solid growth plans after receiving a £30,000 facility from invoice finance specialists Positive Cashflow Finance.
Chris Sawyer, director of ACA Electrical, has revealed ambitious plans to reach double turnover for the business, through the expansion into larger-scale works.
The business, which was founded in 2013, will offer a complete electrical solutions service, dealing with both domestic and commercial works nationwide.
Sawyer said: “Although annual turnover is currently around £150,000, to take the business to the next level we needed more cash available and felt that invoice finance was the perfect solution for us as the funding will increase as we grow.
“I turned to Positive Cashflow Finance when I found myself facing extended payment terms. They allowed me to release cash tied up in invoices and bridged the gap between financial outlay for materials and recouping payment. This has allowed me to re-invest into other projects straight away, meaning I can focus on expanding my business.”
Danielle Winfield, regional sales director at Positive Cashflow Finance, added: “We are delighted to be able to offer the business our support. We look forward to assisting with the growth of the business, allowing Chris and his team to expand into other areas.”
Positive Cashflow Finance, which is part of 1pm PLC, is a Manchester-based invoice finance provider offering facilities from £10,000 to £1m.