Left: Our introductory video launched in April 2018; and Right: About our clients video launched November 2018.
As I sprint past my first anniversary of joining the Liquidity Club I pause for breath to reflect on what I and the Liquidity Club have been up to.
I remember my first day well, walking into the Finance 4 Business' brand new offices and being paraded around trying to remember all the names presented to me. Sitting at my desk, I broke the spine of a crisp new note pad and that was that – time to support the growth of Liquidity Club.
How it unfolded
The concept, ‘an outsourced sales team’, is how we disrupt the market; working closely with a small selection of business finance funders who we felt fit with our values and the needs of businesses. The concept was formed, and it was time to find these finance providers the right funding opportunities.
I jumped in my car, took many trains, made countless calls, talked to loads of businesses, to my introducers, learnt all about the world of social media and then we made a video that is yet to go viral (see above), but I have total confidence! What was clear from early on was business’ were looking to raise finance but other than speaking to their bank they didn’t know where to start (as Will Mason reported in his blog earlier this year).
Pleasingly (and thank you to everyone that has supported me) the opportunities came in thick and fast and the results have exceeded expectations. We’ve secured cashflow solutions to include refinance, new finance, acquisition & transactional debt, growth and turnaround all for a variety of situations.
Liquidity Club is not standing still. We have invested in our people and are up to a team of seven, bolstering our analytics team, launching in the North West and now London and the South. Everyone believes in our core value ‘Pragmatism’ - we are pragmatic in everything we do, approachable, straight talking and lateral thinking.
It’s good to stop and pause for breath and reflect but not for too long as there are businesses that require finance and funders willing to support them, it’s time to kick on!
Asset based lending to businesses in the UK has grown 2% year on year in Q3 2018.
Stephen Pegge, Managing Director of UK Finance said: "Asset based lending continues to show steady growth, driven mainly by advances to larger businesses. Support to small and medium-sized companies through invoice finance and asset based lending is now comparable to total balances drawn on overdrafts."
"However, overall growth has remained modest in line with recent trends across SME lending, as businesses delay investment decisions until the broader economic picture becomes more certain.""
Liquidity Club has arranged and advised a seven figure Asset Based Lending (ABL) facility for Penistone business AD Bird Stainless Limited. Liquidity Club worked with Wyelands Bank who acted as funders on the deal.
A family-run business, AD Bird Stainless Limited was established in 1987 and has quickly built up a reputation for the fast, efficient and reliable supply of quality, specialist, stainless steel products and services. The business employs 23 staff from its headquarters on Sheffield Road in Penistone and is forecast to achieve over £7million turnover this next financial year, which demonstrates substantial growth over the previous year. It works with a wide range of industries including nuclear power generation, oil and gas, water, marine, petro-chemical, architectural, automotive, construction and general engineering.
The ABL facility was structured by Ian Flaxman at Wyelands Bank, who worked with Adam Simpson at the Liquidity Club to tailor a finance package to support AD Bird Stainless Limited’s growth strategy. The ABL line is a revolving facility that works by accessing cash held within the debtor book and assets, thereby giving AD Bird Stainless Limited access to working capital to assist future growth.
The business is today run by the second family generation of Nigel Bird, Managing Director, and son of founder Derek Bird.
Nigel Bird, Managing Director at AD Bird Stainless Limited said: “The funding is a very important driver in our growth and allows us to manage our future plans. We are extremely busy with new orders and supporting existing customers, both in the UK and overseas, and I am excited to have the financial backing to invest for the future. This year we are on track to hit our forecast turnover which has been assisted by our increased focus in the marine sector. The support provided by Adam Simpson at Liquidity Club throughout the process has been great, he has really understood our business and our growth strategy.”
Ian Flaxman, Managing Director, Working Capital Solutions at Wyelands Bank, said: “At Wyelands Bank, we were set up to help businesses just like AD Bird Stainless Limited to trade, grow and create jobs. By supporting small and medium firms, providing the business finance they need to trade effectively, we fill a vital gap in the market. We give customers direct access to decision makers and work together to find the right funding solution for them, as this deal with AD Bird Stainless Limited demonstrates.”
Birmingham | Leeds | Liverpool | London | Manchester | Nottingham | Sheffield
Liquidity Club, 9th Floor, Cornerblock, 2 Cornwall Street, Birmingham, B3 2DX.
Part of the Finance 4 Business Group
© COPYRIGHT 2017. ALL RIGHTS RESERVED.