Ben Blackwell got in touch with Funding Options when he needed funding to fuel his business’ continuity and growth.
Ignite, Fire and Electrical is an independent fire, security and electrical company based in Milton Keynes. For the past 15 years Ben Blackwell and his co-director Daniel—along with their growing team of experienced specialists—have been designing, supplying, installing and maintaining all aspects of fire, security and electrical works.
Their overarching aim is simple: “to make people feel safe in their own homes and in the workplace”.
The Ignite, Fire and Electrical team offers a range of services and works across both commercial and domestic markets.
Plans for expansion were under threat
After just one year of trading, the company was making a profit and the future looked bright. “We were ready to start expanding and taking it to the next level,” explains Ben.
However, the emergence of Covid-19 and subsequent lockdown threatened to stall development for at least two years. “For new startup businesses that can be detrimental because the first couple of years are so important,” Ben adds.
Ben and his team were about to start some big projects and were relying on completing their existing work to pay for next projects.
Yet, “because of Covid restrictions we weren’t able to finish those jobs and be paid by the time we needed to start the next jobs”. Ben knew the business needed short-term finance that would enable them to “carry on and buy the materials needed to fill existing orders” while the business waited to receive the Bounce Back Loan.
Ben was unsure what solution would best match his business’ needs in the meantime and turned to Funding Options for some help. He got in touch with Joe, a Senior Business Finance Specialist from Funding Options. The process was quick, simple and “guided”.
Ben explains: “I outlined our scenario and what we needed to Joe and he came up with a solution for us. Funding Options provided us with an overdraft facility from Just Cashflow, which we never even knew existed. We received the finance in a couple of days. It works totally in our favour and is perfect for our needs.”
Traditional high street bank overdrafts are a useful cash flow solution but have become harder to access and banks are often reluctant to lend. Fortunately, there are lots of flexible overdraft alternatives on the market today—including Just Cashflow’s overdraft solution.
As well as delving into the consumer and property market, Ignite, Fire and Electrical is about to move into its first commercial offices.
Back on track & speeding ahead
The cash flow loan has enabled Ben and Daniel to “carry on and to buy the materials we needed to fill our existing orders” and keep their “head above water”. Although they have paid off their initial loan in full, having the overdraft option “as a backup” provides them with the reassurance they need as they continue to operate in an uncertain economic climate.
As Ben says, Funding Options’ “expertise helped us find the solution we needed in order to stick to our KPI's and to make it through this pandemic”. Having the right funding has meant Ignite, Fire and Electrical can resume their impressive growth and more importantly, continue to help even more people feel safe and secure in their home and workplace.