K2 scale European boundaries thanks to Ashley
Lincolnshire based recruitment experts K2 Engineers started trading in August 2005. Having tried other invoice finance companies and banks, K2 turned to small business invoice finance specialists Ashley Commercial Finance to factor their accounts.
With Ashley’s financial assistance Polish rotating equipment engineer Marek Gloc was placed into IMPaC Offshore Engineering GmbH in Hamburg, Germany with a temporary contract. Ashley enabled K2, who supply mainly offshore and onshore oil refineries, to supply a candidate for the first time to a German company. Initially Marek had a three-month contract but IMPaC were so impressed this has been extended by another three months.
K2 Engineers pay their contractors on a monthly basis and asked Ashley, who they found via an internet search, to factor their invoices, instead of using a bank. K2 raise the invoice which is signed off by IMPaC and Ashley pay the money to accounting experts Brookson’s, who sort out the tax implications of the wages and pay the workers directly.
K2 now employs eight staff, including two associates in Cyprus, and has a projected turnover of more than £250,000 for this year, which has consistently increased since start up, allowing K2 to take on more staff.
Kelly Moore, K2 Engineers Sales Director, said:
“Using invoice finance is an excellent way of boosting revenue and reducing risk and using Ashley has allowed us room for further expansion. Because we have Ashley, we can take on any number of contractors in the EU. Without Ashley we would have to rely on banks, who could stop our overdraft at any time. We send our invoice to Ashley, tell them how much to draw down and they pay – job done. It is a really smooth process and makes our finances hassle free. We have used other invoice finance companies and big banks but none of them stand up to scrutiny. Ashley is an excellent firm and we have a really good, close working relationship with them – the people there are very helpful and friendly.”
Managing Director of Ashley Commercial Finance, Jonathan Cranston, said:
“Many companies are strangled by cash flow restrictions and need someone like ourselves to get things moving. Our services are flexible and well suited to small and growing businesses like K2 Engineers. They often have to wait many weeks to be paid by the customer, but have to pay contractors promptly. We can help with cash flow and fund a growing contractor book more effectively than an overdraft can. We offer the personal touch small businesses need in contrast to high street banks and provide a far more efficient and effective credit control service.”
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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/k2-scale-european-boundaries-thanks-to-ashley/edit
K2 Engineers provide recruitment services to the energy, engineering, power, offshore oil and gas industries worldwide and work with some of the world’s leading oil companies. K2 Engineers work with both clients and candidates in the engineering, construction and exploration sectors and provide contract or permanent staff to Albania, Saudi Arabia, USA, Qatar and across the EU. More information at: www. k2engineers.com
For more details on IMPaC visit: http://www.impac.de/contact.htm
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).
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.
K2 Engineers Contact:
Kelly Moore, Sales Director, Tel: 01406 422118
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