Funder hails Positive year

INVOICE  finance specialist Positive Cashflow Finance has revealed a 25% hike in profits.

The Manchester-based funder increased its surplus from £624,000 to £780,000 on turnover of £3.8m in the year ending November 2014.

Founded in December 2007 by David Smith, Phil Chesham, Simon Cook and Peter Davis, Positive Cashflow now employs 30 staff and has an office in Birmingham as well as its main base on Liverpool Road.

It offers funding to businesses looking to borrow from £10,000 up to £1m.

The business, which provides both factoring and invoice discounting facilities, has completed 78 deals over the last 12 months. It focuses on owner managed businesses, ranging from start-ups to businesses recording turnover of £15m.

Peter Davis, finance director said: “The market is as competitive as ever, yet we have returned record results which demonstrates the strong reputation we have gained and the relationships we have built with our introducer and customer base.

“We have a wide spread of introducers that trust us to assist their clients and provide the best possible service. We continue to increase our client numbers and our funds out passed £20m shortly after our year end.”