Simon Cook, David Smith, Phil Chesham and Peter Davis

Partner Article

Positive Cashflow Finance Show 25% Increase in Profits

Manchester based invoice finance specialists Positive Cashflow Finance (“Positive”) have revealed a 25% increase in pre-tax profits, growing from £624,000 to £780,000 on turnover of £3.8m in the year ending November 2014.

Established in December 2007 by David Smith, Phil Chesham, Simon Cook and Peter Davis, now employs 30 staff. They offer funding to businesses looking to borrow from £10,000 up to £1million. In addition to the head office in Manchester, Positive have had an office in Birmingham since 2011 which is headed up by Paul Varley.

The business, which provides both factoring and confidential invoice discounting facilities, have completed 78 deals over the last 12 months. Positive focusses on owner managed businesses, ranging from new start company’s up to businesses recording turnover of £15million.

Positive have clients in a wide range of sectors, with the majority being in the core industries of manufacturing, recruitment, transport, engineering and printing. Being an entrepreneurial owner managed business, making decisions in house has enabled the positive team to also be creative when structuring deals that aren’t typically suited to invoice finance as a type of funding.

Peter Davis, finance director said: “The market is as competitive as ever, yet we have returned record results which demonstrates the strong reputation we have gained and the relationships we have built with our introducer and customer base.

“We have a wide spread of introducers that trust us to assist their clients and provide the best possible service. We continue to increase our client numbers and our funds out passed £20 million shortly after our year end.”

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

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