Ben Haines, Managing Director of Green Build Environmental Ltd, found that the business development was being restricted by the funding solution offered by his existing funding provider.
The company had become increasingly busy since it began trading in September 2013 and, as their client base grew, along with the spread of work and assets acquired, the board knew it was time to find a new funding partner – and one that was able to support such rapid growth.
Keen to grow and sustain the business, they sought a flexible funding partner that could adapt to the growing needs of the business – without imposing restrictive terms at a later date.
Green Build Environmental Ltd's existing funding provider was unable to provide the level of funding and support that the business needed. The company switched to ABN AMRO Commercial Finance in early 2014, after receiving an initial offer of a £300,000 monthly funding line – double that of their previous financier.
We provided a non-recourse domestic factoring solution, enabling the business to grow with confidence and manage cash flow effectively.
Green Build Environmental Ltd had been introduced to ABN AMRO Commercial Finance by an existing customer of ours, who, in turn, had been introduced by another existing customer, proving that our customers really do speak for us. The same has been true for Green Build Environmental Ltd, the board found themselves reassured by the recommendations of businesses that had grown with help from ABN AMRO.
This funding has since been increased further to £1,200,000 in order to reflect the level of monthly turnover that the business is now consistently trading at.
ABN AMRO Commercial Finance provided the funding solution the company needed, and fast. We were able to make the first payment within a month, enabling Green Build Environmental Ltd to achieve their growth forecast targets hassle free.
The funding will be used to assist in growing the business in the future. With an increasing order book, Green Build Environmental Ltd is now able to invest further, and on a larger scale, to meet the needs of their expanding customer base, geographical coverage area and the services provided to their clients.
“ABN AMRO Commercial Finance have allowed our business to expand in a way that exceeded our original business plans,” says Ben. “We were able to immediately invest in increasing our fleet of 8 wheeler tipper and grab lorries, as well as begin the investment in our recycling centres at Elsenham & Purfleet. This expansion would not have been possible had it not have been for the support of ABN AMRO. We now run a successful fleet of lorries that cover all of London & The South East competitively and with an extremely high level of service.”