Ultimate Finance Group
Region: North West
Programme: Investment Programme and our other commercial investments
Rokserv is a cleaning equipment business which sells and refurbishes industrial cleaning equipment.
Peter and Deborah Bird, along with Karl Teare, started Rokserv Ltd six years ago. They invested less than £3000 and operated from a small industrial unit.
It was then approached and teamed up with international industrial cleaning equipment manufacturer, Wetrok AG, to become its UK distributor.
The company went from strength to strength and today the business is based in a fully equipped 3000 square foot warehouse and it stocks more than £100,000 of spare parts and machinery for sale, with a large range of ready to use sweepers and scrubber driers to hire.
It currently has a team of eight and is on target to grow its turnover by 27 per cent in just two years.
With the customer base growing rapidly, and with the additional jobs being created, it needed a capital injection to fund its expansion programme and organised a £50,000 invoice finance facility through Ultimate Finance to help maximise its cashflow.
Commenting on the finance deal which will aid the expansion, director Debs Bird, said,
“As with all small businesses, growth can be held back because it can take months to receive money from outstanding invoices, which puts a strain on the business.
“It is well documented that traditional banks are reluctant to lend so we looked at alternative ways of financing our growth.
“Mark Holland at Ultimate Finance provided an invoice finance facility enabling us to receive the money we are due shortly after the invoices are issued. This can then be invested in new people and machinery to help grow the business.”
Regional director of Ultimate Finance in the North West, Mark Holland, is seeing a growing number of businesses turning to this form of finance.
“There are so many successful businesses like Rokserv who are unable to realise their full potential because they cannot access funds via traditional methods.
“Unfortunately invoices can take a long time to get paid, even from very successful blue chip companies, so our aim is to provide a solution to free that money up so the company can use it to build on their success.
“It is very pleasing for us when we are able to assist an ambitious company like Rokserv to continue to do well and grow the business.”