Underhill Building Services operates out of Plymouth and Exeter and is the leading service provider of building and maintenance support throughout the South West. Its services include new builds, major and minor refurbishments, alterations and extensions across all building types in the domestic and commercial sectors.
When Steve Rogers took the helm in 2017, the company had been successfully trading for 20 years, but he felt it had huge potential to expand and become more profitable. Steve looked into all aspects of the business to explore possible efficiencies and growth opportunities. What became clear was that the company was being held back by waiting for invoices for large contracts to be paid.
Steve came to Ignition to discuss Invoice Finance options, which would help unlock these funds and ease cash flow. Ignition put together an Invoice Factoring package in conjunction with Lloyds, which means that whenever Underhill Building Services raises a substantial invoice, it receives 70% of the value in funds within just 36 hours. Then once the customer pays in full, Underhill receives the remaining balance, minus the agreed fee.
Steve Rogers comments:
“Invoice Finance has made an enormous difference to the business as it has helped with cash flow, enabling us to re-invest and expand. The system is robust, straightforward and hassle-free.”
Underhill Building Services has gone from strength to strength with clients now including pub company Hawthorn Leisure, Star Pubs and Bars, and Enterprise Inns – the largest pub company in the UK.