Lincolnshire building and plumbing specialists Turnbull and Company has secured a £4 million invoice financing facility to provide room for growth.
Established in 1895, the company now has seven sites across Lincolnshire and Nottinghamshire service 4,000 customers.
The new finance facility secured from HSBC will help Turnbull to manage its working capital and fund its growth.
The business has already grown by 20% in the past two years and aims to further increase this growth with HSBC’s support.
Gary Hopkins, Managing Director of Turnbull and Company Ltd, said: “We’re delighted to have secured such a flexible finance solution from HSBC to assist with our working capital requirements. The funding supports our cash flow which means we are able to focus on the growth of the business.”
Roger Pratt, HSBC’s Area Director for Corporate Banking in the East Midlands, said: “This innovative deal provides Turnbull with structured funding to support its growth and expansion plans. We are committed to helping British businesses like Turnbull that are passionate about the industry they are in.”