When news happens, text CHRON and your photos or videos to 80360. Or contact us by email & phone.
A £10 million fund aims to support cash flow for Basingstoke's small businesses
AN INDEPENDENT invoice finance provider, new to Basingstoke, has launched a £10million fund to support the growth ambitions of the borough’s business community.
Positive Cashflow Finance, which has offices in Manchester and Birmingham, set up its ViewPoint base on Basing View six months ago.
Funding from Positive will be available to businesses with a turnover of between £100,000 and £10 million, and can be used to replace bank funding lines in order to support the working capital and cash flow of a business.
Caroline Langron, regional managing director at Positive, said: “Small and medium-sized businesses are in desperate need of suitably-priced funding to provide financial stability.
“We approach every client with flexibility so we can help new-start enterprises or long-established businesses.
“By ring-fencing this fund, we have a great opportunity to make a real difference to Basingstoke’s business community by helping its SMEs maintain steady cash flow.
“The funding can also be used to encourage entrepreneurs to pursue their growth ambitions and avoid standing still in a difficult market.
“Our offices in Manchester and Birmingham have supported a number of really dynamic and fast-growing businesses, and we already have fantastic businesses on our books.
“I look forward to working with, and supporting, even more businesses in Basingstoke.”
The firm has recently taken on two new colleagues with Simon Adcock as regional sales director and Eve Steed as relationship manager With 12 years experience in the invoice finance industry, Simon has been tasked with new business development and marketing for the Southern region.
Eve has 10 years of experience in the invoice finance industry – with the last eight as a client manager for a bank.
Simon believes businesses in the south play an important role in leading the UK out of recession.
“Because of this, it is even more important that SME owners in this region feel supported and have the access to the finance that they require to achieve their growth plans.”
Eve added: “I believe that businesses need long-term support from their finance suppliers, not just a one-time cash injection, so I look forward to cultivating long-term relationships with our clients in the south.”