Partner Article

New start manufacturing firm secures funding facility

Manchester based invoice finance specialists, Positive Cashflow Finance (“Positive”) have provided new start manufacturing firm, Bluesky Manufacturing Ltd (“Bluesky”) with a £200,000 funding facility. Prime mover, Russell Blaikie has vast experience within the manufacturing industry at both managerial and director level.

Bluesky manufacturer’s oral hygiene products such as mouthwash and denture tablets at their premises in Ferrybridge. They have already won contracts to supply Wilko and many other retailers throughout the UK and are on target to reach sales of £1.5 million in their first 12 months.

The directors of Bluesky have been working with Trevor Deacon at Crest Finance to structure the correct funding package, which was a key element of ensuring the business set off on the right footing. The facility will provide working capital and ensure cash is readily available as sales continue to increase.

Russell Blaikie, managing director of Bluesky said: “I have known Trevor for over 5 years, so when deciding to start the business, I immediately contacted him for advice on structuring the right funding package.

“Being a new start business, we realised how crucial it was to have a funder that would provide flexibility to accommodate the constantly changing business and we think Positive is the perfect fit.”

Phil Chesham, sales and marketing director said: “We are delighted to be supporting Russell and the rest of the management team in what is an exciting venture.

“The business provides premium quality products and we look forward to assisting the growth over the next few years.”

Positive is an independent invoice finance provider with offices in Manchester and Birmingham offering facilities from £10,000 to £1m.

This was posted in Bdaily's Members' News section by Nick Chapman .