Air conditioning and refrigeration contractor J.C. Watson Mechanical has secured a £200,000 working capital facility from invoice finance providers, Gener8 Finance.
Oxfordshire-based Gener8 Finance arranged the £200,000 facility to fund the business’ growth plans and support day-to-day operational requirements. Gener8 Finance, part of the 1pm Group, provides invoice finance facilities to SMEs looking to borrow amounts from £10,000 to £1m.
Matt Harding, business development manager at Gener8 Finance, said: “We are delighted to assist J.C. Watson Mechanical with a funding package that supports their growth plans. Working closely with John, we could understand the exact requirements of the business and offer a bespoke package which would release cash flow otherwise tied up in unpaid invoices. We look forward to supporting the business and growing together.”
John Lyman, director at J.C. Watson Mechanical, said: “With a strong reputation for unrivalled expertise and superior levels of service, we regularly invest in new technology and high-quality staff as well as training. Thanks to the funding facility provided by Matt and the team at Gener8, we now have access to additional working capital which will allow us to invest in these key areas of the business.”
J.C. Watson Mechanical, based in Essex and Surrey, designs and installs air conditioning and refrigeration solutions. It offers a complete service, from design through to installation, service and maintenance, also taking on maintenance contracts for equipment they have not installed.
With over 40 years’ experience in both the public and private sector, the business offers services to local authorities, the NHS and corporates businesses.
Last month Gener8 Finance supplied a £70k invoice finance funding facility for London-based Key Skills Education to expand its offering across the UK.
The East London-based company, which was established in 2010, places teachers and teaching assistants into schools and education centres across London and the Home Counties, on long-term and permanent placements.