UK challenger bank Aldermore has agreed to provide a £250,000 (345,000) invoice finance facility to family-run courier service Route 1 Express Couriers.
Northampton based Route 1 Express Couriers provides delivery services across the UK and Europe for clients across industries including banking, electronics, telecommunications, marketing, advertising, print, legal and pharmaceuticals.
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The company was founded in 2012 to provide courier services to Mainstream Direct, the family’s sister company specialising in direct mail production.
The management team consists of husband and wife Lee and Jade Haines with other family members involved as directors and shareholders, including Lee’s father Richard who is the managing director of Mainstream Direct.
Andy Geagen, regional sales manager, Invoice Finance at Aldermore, said: "It was a relatively easy decision for us to provide finance to Route 1. Last year we provided funding to Mainstream Direct, which is run by Lee’s father Richard with whom we have developed a strong working relationship. This meant we already knew the Haines family well which was a key factor in bringing Route 1’s business to the Bank.
"We’ve enjoyed watching Mainstream Direct’s progress since we first provided funding to them and are hoping to see Route 1 enjoy similar success."
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By GlobalData
