Timber supplier announces funding deal
BRADFORD merchant Ashley Timber is aiming to fill a gap in the market after agreeing a new funding package.
The company supplies timber products including decking and building timber to wholesale merchants predominantly concentrated within the construction industry.
The firm plans to plug what it sees as a gap in the regional supply chain and will use the funding secured through Cattles Invoice Finance to help achieve its aims.
The success of the company to date has been founded on a 'no minimum order' policy, allowing customers to buy timber as and when they need it.
Gary Ashley, a partner at the company, said: “Funding from Cattles has enabled me to increase our stock holdings which allows us to take on more business. Also, by transferring the burden of invoices to Cattles I have much more time available to devote to making sure that the business is run as efficiently and productively as possible.”
Jamie Hunt, regional manager at Cattles Invoice Finance, said: “Invoice finance can provide an immediate cash injection for companies like Ashley Timber who need to invest in new stock following a period of rapid growth, machinery or manpower in order to take the business forward. The unnecessary hindrance of receiving payments irregularly and often late is completely eradicated.”
