A new study reveals the challenges that businesses experience when trying to obtain financing from traditional lenders and how non-traditional
Clean It Right Ltd is a specialised cleaner company in Worcestershire that specialises in end-of-tenancy cleaning, carpet cleaning, oven cleaning, and domestic and commercial cleaning.
Clean It Right was having “weekly issues with their cash flow and was always chasing clients” for money owed to them through invoices.
Now, thanks to Apollo, they can increase sales, hire more employees, and no longer have to worry about managing their cash flow.
Clean It Right Ltd, like many SMEs in the UK, was plagued by late payments, which limited their time and made it difficult to manage their cash flow effectively.
Late payments cause a plethora of problems for businesses. including time spent seeking down payments, being unable to engage in expansion due to a lack of funds, and being unable to pay staff their outstanding salaries
Clean It Right received immediate cash through Apollo’s invoice financing programme, based on the amount owing to them through their invoices.
They no longer had to spend time following down late payments; they now had time to focus on their quickly expanding and growing business.
“The portal is fantastic and easy to use. Having been with another major factoring company before, which was so difficult to use and understand that even my accountants struggled with, Apollo’s portal is simple and straightforward and for a fraction of the price,” says Chris Williams, Director at Clean It Right Ltd.
Thanks to Apollo’s assistance, Clean It Right has been able to take on extra business and grow at a rapid rate.
“Using Apollo has helped me free up my time to increase sales, increase employees, and without having to worry too much about cash flow and having enough to pay my employees each week.” We have gone from a team of 4 to 11 in the space of a year”
“We have been able to expand rapidly, safe in the knowledge that we have a steady cash flow and can predict with certainty what money is coming in every week. In under a year, we have gone from operating 1 team to 4 teams of 2 and our turnover has increased from £100,000 per year to be on target this year for £250,000.” – Chris Williams, Director at Clean It Right Ltd.
Achieving exceptional results like these is possible if you have the right support partner. We know there’s a funding crisis facing SMEs, and many of the high street banks aren’t funding businesses that need it the most.
Let Apollo be your support partner. We’re happy to fund any business regardless of size, poor credit, or CCJs. We believe every business deserves a chance to thrive.