Funding just the job for Venturi Ltd

Nov. 10, 2011 - PRLog -- Release date: 10 November 2011


Funding just the job for Venturi Ltd

•   Cheshire-based recruitment specialist secures £300k funding line
•   Funding enables office move and expansion
•   Fast-growth business set for success

Specialist IT recruitment agency, Venturi Ltd, has secured £300k of financing through independent Invoice and Asset Based Lender, Venture Finance.

The facility, incorporating Factoring and Bad Debt Protection, will enable the Wilmslow-based company to grow rapidly into its second year of trading. As a result of the funding, the recruiter has increased its staff by more than 60 per cent and moved from a managed service office to its own premises in Wilmslow.

Brad Lamb, managing director at Venturi Ltd, comments: “Invoice finance is a vital part of running our business, but our previous provider wasn’t giving us the best service and financial support. Venture approached us at just the right time, providing us with extra funding and bad debt protection, enabling us to hire more staff and improve our back office systems.

“The funding has had an extremely positive influence on our business, helping us to keep clients happy with more flexible, regular payments. It has also helped us double our turnover to over £3m putting us in a great position for future recruitment and growth.”

The new facility is more than twice the size provided by Venturi’s previous lender. The company can also access more money upfront from its invoices providing vital working capital for growth.

Nick Russell, business development manager at Venture Finance, comments: “It’s exciting to support a dynamic small business with as much growth potential as Venturi Ltd.

“Venture was able to get the ball rolling quickly by helping Venturi to pay its previous provider’s exit fees. We can now give the company rapid access to working capital, allowing them to seize any growth opportunities that come along.”

Ends

Further Information

For more information, images or an interview with Brad Lamb or Nick Russell, please contact:

Lauren Greatorex or Toby Brown at Man Bites Dog

01273 716 820

teamventure@manbitesdog.com

About Venture Finance

Venture Finance is an award-winning independent Invoice and Asset Based Lender and part of the ABN AMRO Commercial Finance group. Established in 1989, Venture provides Factoring, Invoice Discounting, Export Finance, Structured Finance and numerous related services to start-ups through to £250m turnover organisations. Providing consistent support via its 200+ staff and 11 regional offices, Venture helps clients manage working capital, refinance, restructure, fund business opportunities and expansion, purchase new equipment and finance M&As.