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Just Cash Flow Plc Quadruples Finance Facilities Limit

October 19, 2018

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Fintech lender Just Cash Flow PLC has increased the upper limit on its range of flexible finance facilities from £500,000 to £2 million in response to both existing and new customer demand.

Director, John Davies explains, "We are committed to helping well-run SMEs invest and grow. The excellent news is that many of our customers now have the confidence and well-thought out business plans to invest considerably more that our previous upper limit of £500,000.

"The £2 million upper limit applies to new customers and we will provide finance significantly in excess of this on a case by case basis - we are currently arranging a £6 million facility with a leather goods manufacturer.

"Our experience is that time-starved business owners are looking for a relationship and a financial partner that both understands their businesses and can proactively support their growth plans. 

"They are also looking for timely decisions and we constantly receive feedback that this is something traditional lenders are struggling to provide."

It is almost 10 years to the day that The Marine & Property Group lost all their credit lines and funds overnight when the Icelandic Bank they were dealing with collapsed. However, determination and entrepreneurialism has driven the company to being, by value, one of the top ten largest marine and leisure companies in the UK     

Christopher Odling-Smee, Director of The Marine & Property Group has been a customer of Just Cashflow since 2014 and is a prime example of a customer that values the 'relationship' approach.

The Marine & Property Group provides a wide range of first-class berthing and service options for leisure and commercial boat owners, with marinas in Cardiff, Bury Port, Aberystwyth, and Port Dinorwic and a substantial commercial portfolio. Through their sister company Bayscape Limited they are developing new apartments and landside facilities at Cardiff Marina. Berth-holders will also benefit from a new marina-side bar and restaurant, new shower and bathroom facilities and a new marina office.

When the Marine & Property Group initially entered into discussions with Just Cashflow they were looking for short-term funding to develop their business. 

They had long-term funding in place but felt opportunities would arise that would necessitate additional short-term funding and this is where Just Cashflow filled the gap. Christopher reveals that The Marine & Property Group was in a transition period between banks and this compounded the necessity for access to quick short-term funding.

As the relationship developed, Just Cashflow proactively discussed with Christopher the Bayscape apartment and waterside project. He had already secured senior and mezzanine debt funding to get phase one of the project off the ground. However, he was keen to obtain some additional short-term funding for the project to enable him to secure some heavily discounted costs by paying a number of suppliers early. This was something that Christopher knew he could not take to a traditional lender, as he believed they did not have the tools or facilities to process or expedite such a request. It is estimated that the cost savings for the project to date by paying the suppliers early is already over £100,000. 

Christopher explains, "Our relationship with Just Cashflow allows us to act quickly and take opportunities when they arise. Speed, flexibility and the people who understand our business are extremely important to us. That's why we will continue to use their range of flexible finance facilities on a range of future projects.  When an opportunity arises on a Monday, they are able to act on it by the Thursday" 

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