G W Plastics recycling faster with Ashley
Staffordshire based G W Plastics Recycling Ltd. started trading in March 2001. After two years in business, the waste management company turned to small business invoice finance specialists Ashley Commercial Finance to improve cash flow.
G W Plastics had been advised by their bank to take out a loan, but, sensibly, they wished to explore all their options and ultimately decided upon an invoice finance package with Ashley, rather than the long tie in loan being offered by their bank. The Ashley facility allows them to take money when required, instead of a large lump sum with a loan from a bank. Ashley took on their existing ledger and released cash against it. The business has benefited from an Ashley decision maker always being at the end of the phone who can react immediately to changes required. This has allowed the business to confidently push itself forward and expand. In three years, Ashley has helped the business to nearly treble its turnover.
G W Plastics Recycling recycles plastic, cardboard and PVC, employs 14 staff and has seen its business grow with annual turnover boosted from £400,000 three years ago to £1.1 million.
Mark Gilbert, Managing Director of G W Plastics Recycling, said:
“Ashley has helped generate more cash for our business and helped us move forward. As with any small business money was tight and Ashley helped the business develop and grow. Without Ashley we wouldn’t be here – that’s a certainty.
All the high street banks wanted to tie us up in long term loans. The banks needed more commitment and aren’t as flexible as Ashley. Bank loans would have provided a big chunk of money that would be swallowed into the business but with factoring we could take money when required. Invoice finance provided more flexibility and when you are tied into a long term loan it is difficult to get out of it.
It was great to be able to speak directly with a decision maker at Ashley, which is much harder to do through a massive bank. Ashley are flexible. There is someone at the end of the phone we can talk to and if we have a query they can resolve it quickly. Ashley are there for us, as and when we need them. We have developed a strong relationship with Ashley.
Ashley also help us to control customers’ credit limit. Using invoice finance enables us to set credit limits for our customers and enables us to manage our expenditure too. We are expecting to grow a lot bigger, having trebled our turnover in the three years Ashley have been involved. Our business is definitely heading in the right direction thanks to Ashley’s involvement.”
Managing Director of Ashley Commercial Finance, Jonathan Cranston, said:
“Many companies are strangled by a lack of cash and need someone like ourselves to get things moving. Our services are well suited to small and growing businesses like G W Plastics Recycling Limited. They often have to wait many weeks to be paid by the customer, but have to pay wages and suppliers promptly. We can help with cash flow and fund a growing order book more effectively than an overdraft can. We offer the personal touch small businesses need in contrast to high street banks and offer a far more efficient and effective credit control service.”
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G W Plastics Recycling Limited is based in Cannock, Staffordshire and have recently opened a new factory in Grimsby. It started trading in March 2001 and specialises in site waste management, covering all areas of industry from retail to manufacture and collecting from all over the UK. The recycling services are not available to the general public; the company deals mainly with local authorities and waste management service providers. For more information please visit: www.gwplasticsrecycling.co.uk
Ashley Commercial Finance is a truly independent invoice finance company, with no ties to banks or other financial institutions. Ashley provides invoice finance for the smaller business (including start ups and turnarounds) across England and Wales. Ashley has offices in Manchester, London, Leeds and Bristol. The company has almost 200 clients with turnovers between £50,000 and £1.5 million. They range from printers to road haulage companies, recruitment agencies to taxi firms, recycling companies to IT organisations.
Ashley provides ongoing finance for a business at up to 90% of the value of a client’s sales ledger, which, coupled with professional credit control makes invoice finance an attractive option for a growing business and a smarter alternative to an overdraft. As the facility is based on a percentage of turnover, the funding available grows with the business. Ashley’s independence and lack of bureaucracy means that funding can be in place for new clients to draw down within 24 hours of receiving sales invoices and at the lowest minimum fee. Full Online Account Access enables clients to obtain account information 24 hours a day.
Unlike many other invoice finance companies, Ashley allows clients to choose which accounts they factor, thus avoiding paying unnecessary fees.
In response to client demand, Ashley launched an asset finance facility in June 2005. This is available for anything from computers, telephone systems and office equipment, through to company vehicles, yellow plant and machinery.
There is a great ‘step by step guide’ to invoice finance and more information about the company at www.ashleyfinance.co.uk
Ashley Commercial Finance is a patron of the National Association of Commercial Finance Brokers (NACFB).
Photos (300dpi plus) and further press information available (including press packs) at Marketing Projects’ web site in the press office for Ashley Commercial Finance at http://www.marketingprojects.co.uk/admin/clients/ashley-commercial-finance/articles/how-to-save-money-and-get-paid-wind-rain-or-shine-2/edit
Press Contact: Jane Harrad-Roberts, Consultant Director, Marketing Projects Email: jane@marketingprojects.co.uk Mobile: +44 7785 395705 Tel: +44 1244 330000 Press hotline: +44 1244 330101
Company Contact: Jonathan Cranston, Managing Director, Ashley Commercial Finance Email: jonathan.cranston@ashleyfinance.co.uk Tel: 0161 741 7407 Direct.
G W Plastics Recycling Limited Contact: Mark Gilbert, Managing Director Email: mark@gwplasticsrecycling.co.uk Tel: 01543 450022
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