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3/6/2019

Manchester manufacturer secures six-figure funding deal

PGI Seating Solutions is focused on future growth and new contract wins after receiving a six-figure funding working capital facility. Liquidity Club has arranged and advised the deal with Positive Cashflow Finance acting as the funders.

PGI Seating Solutions manufactures and installs specialist fixed seating and bespoke contract furniture. PGI Seating Solutions specialises in all aspects of fixed seating such as bench seating, booth seating, restaurant and bar seating and banquette seating. The business quickly established a reputation for niche contract work to provide seating solutions for pubs, universities and larger corporates. Today the company employs 12 people.
PGI Seating Solutions has enjoyed steady growth and the working capital facility provided is helping to support PGI Seating Solutions future growth strategy and day to day operational requirements.

Paul Gavillet, Managing Director PGI Seating Solutions said: “We’ve built a superb reputation and are delighted to have fashioned and furnished hundreds of booth, bench and banquette seating systems for clients across the UK. Our key focus is on providing quality and we are proud of our gifted team of upholsterers, joiners, machinists and polishers. We have enjoyed steady growth and thanks to this new finance facility we can grow the business further with confidence and fulfil new contracts. We have been very happy with the guidance provided by Chris Carter at Liquidity Club and Andy Hume at Positive Cashflow Finance.”
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Chris Carter, Regional Director North West at Liquidity Club said: “PGI Seating Solutions is a thriving business and I am delighted to assist them with a funding package that supports their growth aspirations and provides confidence to win new contracts. I worked closely with the management team to understand what financial solutions would work best and introduced them to Andy Hume at Positive Cashflow Finance. Together we were able to respond quickly and provide a flexible solution.”
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Andy Hume, Regional Sales Director at Positive Cashflow Finance, said: “We are pleased to have been able to work alongside Chris and the Liquidity Club, offering a bespoke funding facility for PGI Seating Solutions. Invoice finance was the ideal solution, unlocking cash otherwise tied up in unpaid invoices and allowing the business to take on new orders with certainty. The additional £50k Positive Plus Over Advance also provided Paul and the team with extra headroom and peace of mind.”
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9/5/2019

Cameron Leitelmayer joins Liquidity Club as Associate

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Liquidity Club continues to expand its team in Birmingham, with Cameron Leitelmayer (above: back left) joining as an associate. Cameron will support both sales and operations functions, working with our existing team to help businesses raise funding for their current and future needs.

Cameron brings with him practical financial experience, having previously worked for The Office of the Police and Crime Commissioner (PCC) for Thames Valley as an Apprentice Assistant Accountant completing AAT qualifications Level 2, 3 & 4 as well as being an apprentice ambassador for Oxfordshire Apprenticeships. Cameron was awarded The Freemen of Oxford Accountancy Apprentice of the Year in 2018.

Socially Cameron plays for Helmdon Cricket Club, winning back to back promotions in the past 2 years. 
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Will Mason, Associate Director said: 
"We are delighted to welcome Cameron on board, his experience is ideal for Liquidity Club and we were impressed with the responsibilities he was given in his previous role.

We are always looking for those with the right attitude, both hard-working and capable, but also social and able to build relationships with our clients and the funders we work with."

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2/5/2019

Seven-figure funding supports growth for Rotherham manufacturer

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Liquidity Club has arranged and advised a seven-figure working capital facility for Rotherham-based Specialised Laser Products Ltd (SLP) to support future growth. Liquidity Club worked with Ultimate Finance who acted as funders on the deal.

SLP is run by owner and founder Duncan Proctor, an expert in the metal cutting services sector. SLP was formed in 1995 to initially support the Machine Knife industry in the South Yorkshire area with laser cutting services. SLP has since grown and employs 30 people from a 20,000 sq ft unit at Ford Park in Rotherham. They relocated to this site in 2000 and expanded into more traditional laser markets, of mild and stainless steels, supplying a multitude of industries. Today the family-run laser cutting company is a multi-million-pound business delivering laser cut metal products across the UK, with accreditations for Quality Management ISO 9001:2015 and CE accreditation that assures products meet all the European Community directives.
The working capital facility was structured by Adam Myers at Ultimate Finance, who worked with Adam Simpson at the Liquidity Club to tailor a finance package to support SLP’s growth strategy to move the business forward to expand with new projects in the rail sector and increase profits. The working capital line includes a revolving facility that provides flexibility for SLP to access funding when it is needed to assist new contract wins and growth opportunities.
​Duncan Proctor, Managing Director SLP said: “The new funding package puts SLP in a strong position for continued growth and will support new contract wins and our ability to drive forward the business. We have recently expanded our sales team which further strengthens our ability and desire to increase our customer base across the UK.  We want to be the best at what we do – which is why we’ve invested in our people and use the latest technology, enabling us to deliver projects on time and to specification."

​“I have been impressed by the support provided by Adam Simpson at Liquidity Club. He has been first class. The whole process has been much easier because Adam reviewed the funding options and introduced us to the right funding partner. As a result, we have worked with Adam Myers at Ultimate Finance and received the funding boost we needed to support our growth.”
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Adam Simpson, Commercial Director Liquidity Club said: “SLP is a great family run business and Duncan is hugely knowledgeable in his field of work. Thanks to the working capital facility provided, SLP can grow the business with confidence they have the right financial backing.  Duncan is the driving force at SLP with over 25 years in the industry and his hard work and knowledge is really paying off. The expansion of the sales team and new business wins highlights SLP’s commitment to take the business to the next level and they have identified opportunities to expand into the rail sector.”

Adam Myers, Regional Director at Ultimate Finance, said: “Supporting a successful, expanding and ambitious family business is exactly the sort of good funding that Ultimate Finance exists to deliver. 
SLP is winning exciting new contracts in the rail industry and the funding that we’ve provided means they can maximise those opportunities. ​We were able to offer Duncan  and his team an increased finance package that provides extra security to continue pursuing their growth plans with confidence.  Working with Duncan and Adam at Liquidity Club, has been a pleasure.” ​

11/3/2019

£5m Funding Package for IT Solutions Provider

Hardware.com, an IT services and solutions provider gearing for growth in cloud-related services, has secured a £5m funding package provided by Secure Trust Bank following consultation with Liquidity Club.
Opening in 2003 and based in Gloucestershire, Hardware.com has established itself as an international presence, helping companies undergo  digital transformations globally.

Across the group, including its distribution centre in Swindon and offices in Cirencester, Hardware.com employs over 100 members of staff. The business works with companies internationally through its subsidiaries in the USA, Nordics and South Africa.
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​The company has notable clients across the commercial and public sectors including major retailers, managed service providers, education and government.

Liquidity Club met with Gwyn Hicks, COO and CFO of Hardware.com, to understand the plans for growth and capital requirements for the long-term. The result was an introduction to Secure Trust Bank who provided a facility that better met the needs of the business than their incumbent provider.
Gwyn Hicks, COO and CFO of Hardware.com said "Secure Trust Bank constructed a facility that was more flexible than what we previously had and better met our requirements. This source of capital puts us in a strong position for the future, as we look to diversify our services and grow our market share both in the UK and internationally."
David Totney, MD of Liquidity Club commented: "Understanding Hardware.com's ambitious plan for the future is imperative when finding a long-term funding partner. The existing funder was not providing a facility that could cope with growth so Liquidity Club acted to find an alternative, provided by Secure Trust Bank. We look forward to keeping in touch with the team at Hardware and being part of their exciting future.”
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David Parsons, Regional MD at Secure Trust Bank further added: "Hardware.com's value-added offering has helped it secure contracts with blue-chip customers across the globe. With this new line of funding, the business can invest in new services to allow it to scale up and bring in new revenue streams. We're keen to support Hardware UK, and look forward to seeing the company progress in the coming years."

27/2/2019

When planning is life - Chris Carter

​I’m a man that doesn’t ‘do things by half’ and I take that approach into every aspect in my life! In my view, there is no point doing something if you’re not giving that something 100%. 
Having started with Liquidity Club back in November, followed by the usual bedlam of Christmas and more recently, signing up to run the Manchester Marathon in April, I sit here wondering how I come remotely close to functioning in my day-to-day life!

Caffeine is certainly a contributing factor, but the real answer is planning and as I sit in my new office writing this, I reflect on how SME’s plan for their business at the start of a new year. Is their goal growth and expansion? Consolidation? Exit? Refinance? All these actions will likely require some form of guidance and funding – both of which are our bread and butter at Liquidity Club. So here are a few points that I work by to help businesses achieve their goals.
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Preparation 
We've all heard the phrase “Abs are made in the kitchen”. Starting a new role and fitting in a training plan has been intense, especially trying to reconnect with all my contacts across the North West region. Planning my diary to maximise efficiency is a crucial part of success. The same approach can be taken with your finances. Planning for peaks and troughs in cashflows and seeking help early can avoid larger issues down the line.

Time management 
‘Don’t be a busy fool’ - organising your diary and determining where you need to be is a full-time job in itself!  Throw travel and rush hour traffic into the mix, and your days can quickly become shorter and less efficient. If you are looking at fundraising for your business, is meeting multiple lenders to compare really the best use of your time? Why not focus on running the business instead and leave an expert partner to manage this, maximising the time available to you?

Review the plan 
Many businesses set out their annual financial objectives once - at the start of the calendar year or start of their financial year. Even plans made with the best intentions should adapt as time moves on, and the end objectives change. It is good practice to take stock of how your business is performing towards your target and does anything have to be changed to achieve this? Don’t be afraid to amend this where needed. Missing an occasional training run will not be the end of the world – life does get in the way!

We at Liquidity Club have the market expertise to advise the SME market for their funding needs and business goals. With access to the full financial spectrum we are fully prepared to help and would welcome the opportunity to support your SME contacts where possible.

31/1/2019

Fintech in the 18th Century

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​On the wall of my office hangs a financing document, which opens as follows:


"This Indenture given the seventeenth day of March, in the thirty-sixth year of the reign of our Sovereign Lord, George the Third Of Great Britain, France and Ireland, in the year of our Lord One Thousand seven hundred and ninety six"

It is for the value of one hundred and fifty pounds , fifteen shillings and seven pence halfpenny (equivalent to £21,580 today)

It is in fact a simple assignment of book debts, precisely the mechanism we still use today in an invoice financing arrangement, drawn up before the Napoleonic Wars. More than that it was the classic case of individuals (not a bank or business) joining together to provide a loan to someone with cash flow problems. So you could say a forerunner of today’s Peer-to-Peer Lending!

I've spent over 35 years in the asset based lending industry and I've seen a number of significant changes but it seems we may have come full circle. During the early '80s most players were small independent houses often with a merchant banking background. Operationally as funders we were very much paper driven.

Gradually the main clearing banks began to extend their reach to put invoice finance alongside traditional overdrafts. Over the next few years Asset Based Lending was introduced by one or two US funders, until it became and now remains widely available. In the 21st century 'fintech' has taken off even further and the days of paper are now long gone with most data transferring electronically. Some funders in the current market claim to analyses hundreds of thousands of data points in making lending decisions, most of which are accessed without the client needing to lift a finger.
Yet despite what would seem significant changes to the product offering, the market has still not achieved what I believe is its full potential.

Some of the larger players now have moved away from the smaller SME market, driven by compliance, cost of capital restraints and the difficulty of changing old legacy operating systems. This has led to a number of smaller independents, filling the space, and amongst these changes we also have seen the explosion of Peer to Peer lending

So the lesson to be learnt is I suppose, to be adaptable , to embrace change but at the same time don't throw away all the knowledge gained along the way.
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In a nutshell this is what is so exciting about joining Liquidity Club.

After 35 years in the lending world, working within given parameters and product sets, I now have the opportunity to look across the market for solutions to a range of funding problems that we are presented with. From trade finance, invoice finance and full ABL, to tax credits of R&D expenditure and overpayments in Stamp Duty; in short there aren't many funding requirements that we cannot present a solution for.

To learn more or for assistance raising finance for your business please contact Tim or one of the team here

Tim Corbett

19/12/2018

A moment to reflect on 2018 (by Paul Varley)

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.

What next?
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!

Paul Varley

18/12/2018

Growth in Asset Based Lending Q3 2018

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.""

http://www.business-money.com/announcements/asset-based-lending-continues-to-show-steady-growth

6/12/2018

Seven figure ABL deal supports future growth for South Yorkshire firm

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Left to right: Adam Simpson (Liquidity Club), Nigel Bird (AD Bird Stainless Ltd), Ian Flaxman (Wyelands Bank).

​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. 
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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.”
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Adam Simpson, Commercial Director Liquidity Club said: “The availability of working capital to support growth is an issue faced by most businesses, therefore borrowing to increase liquidity is a significant part of today’s business environment. ABL is a cost-effective and agile alternative for companies because it is secured against company's assets. AD Bird Stainless Limited is a fantastic business and I am delighted to introduce them to Wyelands Bank who have shown great flexibility and understanding to tailor an ABL funding package that fits their needs perfectly. It liberates the cash held within AD Bird Stainless Limited’s company assets, thereby giving faster access to substantial sums of working capital.”
​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.” 

29/11/2018

New Appointment in London & South East for Liquidity Club

Liquidity Club has expanded its team with the appointment of Tim Corbett to lead the firm’s expansion into London and the South East. 
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​​Tim’s appointment comes at a time of significant growth for the Liquidity Club who are expanding across the UK and currently have a strong presence in Birmingham, Yorkshire and the North West. The launch of the business into London and the South East marks a natural transition of growth for the business that acts as an alternative business channel for business funders, to assist SME’s looking to raise finance to support growth and present impartial financial solutions that are tailored to suit each individual business. 

Tim is an extremely experienced ABL and finance professional with a strong background in the sector having worked as Managing Director for BNP Paribas Commercial Finance and as Director in the ABL businesses of Barclays, ​Lloyds/Bank of New York/GMAC and various advisory ​consultant roles, within the sector. Tim will be working with David Totney, Managing Director at Liquidity Club to spearhead their presence in London and the South East. 
Tim Corbett, Advisor at Liquidity Club said: “Liquidity Club offers a fresh new approach to funding for SMEs and since their inception last year, they have grown significantly and expanded their geographical presence across the Midlands and North. I am excited to be launching their London and South East team and to work strategically with clients to ensure they find the right business partner to fund their business needs. Liquidity Club offer an innovative way to assist businesses with their funding needs, working as a broker with a difference, acting effectively as an outsourced Business Development team. We use our experience and knowledge to really understand what is right for each deal and work with both the customer and potential funder.”

David Totney, Managing Director, Liquidity Club said: “Tim’s experience and background is superb, and we are delighted to welcome him to the team. The launch of Liquidity Club into London and the South East is a big step forward for us and Tim’s appointment shows we are attracting a high calibre of people to work with us. Tim is very well connected and knowledgeable, and we are looking forward to sharing his expertise with SMEs across the region and colleagues at Liquidity Club.”
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