The global recruitment expert Talent Works International has secured a £1m revolving credit facility from Growth Lending, arranged under the government’s Coronavirus Business Interruption Loan Scheme (CBILS), to support its cash flow and stimulate further growth.
Growth Lending stepped in when the business’s previous providers exited the market, offering a larger facility that will cover the company’s immediate cash flow needs as well as supporting its ambitious long-term targets for growth.
Talent Works International is a leading recruitment expert with a strong track record, impressive client list and experienced management team. It helps companies to recruit the best talent through outstanding employer branding, digitally led recruitment marketing and scalable recruitment resources.
The business, which also prides itself on its collaborative approach, has expanded internationally by adding a branch in Boston, Massachusetts, to its UK offices in Northampton and Manchester, and is continuing to target growth.
“We found ourselves in a tricky situation when our previous financier exited the market, but Growth Lending stepped in with a facility that has supported our cash flow needs while giving us room to grow,” says the company’s director Neil Purcell. “Their CBILS product is flexible and easy to manage on a monthly basis, and the team has been supportive and communicative from the off.”
Jack Trowbridge, Growth Lending’s commercial director, says: “We are really pleased to support Talent Works International, a well-established business with a global outlook. As well as providing immediate support, we have been able to tailor a product that will enable the team to achieve their long-term targets for growth.”
Trowbridge notes another benefit inherent in the nature of this deal. “This was a refinancing case, in which we were able to work alongside the company’s high-street bank to gain the waivers needed to securitise our facility. It’s a good example of how traditional and alternative lenders can combine to go the extra mile for SMEs.”
The business and the lender were introduced by Greg Taylor, partner and head of MHA Financial Solutions. “We had no hesitation in recommending Talent Works, an excellent and long-standing client of our firm, and we are delighted to work with Jack and his team,” Taylor says. “We know that their process is efficient and that they have the right products to give our clients exactly what they need.”