Launched in 2015, Davies Haulage initially agreed a £20,000 facility with Aldermore to help the business in its early days. Less than a year later, Davies Haulage has extended this by five times the original amount to £100,000, in order to accommodate further growth of the business and its customer base by purchasing two additional trucks for its fleet of freight transport vehicles.
The company has also hired two more drivers in order to fulfil the growing demands for their services.
In the last 12 months, Davies Haulage has grown its customer base from 13 to 16 customers and evolved from smaller, local companies to larger, national companies, including Royal Mail.
Michael Davies, Director of Davies Haulage, comments:
“When Aldermore provided the first invoice finance facility to our business less than a year ago I was very happy with the good service and their quick turnaround. We have since grown our business and hired more drivers in order to service our increasing client base. We see a growing demand for same day and next day delivery services and the company is well placed for future growth.”
Sally Danskin, Relationship Manager, Invoice Finance, Aldermore said:
“Cash flow is a common problem in the haulage sector and it’s great to see how the recent finance facility we provided has helped Davies Haulage to win new customers and take on more staff because they were able to purchase two more vehicles to increase their fleet and service their customers. Davies Haulage is a thriving business for Aldermore to support with real growth potential. We are looking forward to working with Michael over the coming years and hope to see his business continue to expand in the future.”
For further information, journalists can contact:
Ali Rolls, Interim PR Manager
Phone: 0208 185 3129
Mobile: 07341 868259
Constanze Ullmann, Cicero Group
Phone: 020 7297 5978
Mobile: 07741 313 878
Notes to Editors:
Aldermore Group PLC is a specialist lender and savings bank offering straightforward products to Small and Medium-sized Enterprises (SMEs), homeowners, landlords and individuals, who we believe are often poorly- or under-served by the wider market.
Aldermore has no branch network but serves customers and intermediary partners online, by phone and face to face through its network of regional offices located around the UK.
Building on its core values of being reliable, expert, dynamic and straightforward, Aldermore aims to deliver banking as it should be.
Established in 2009, Aldermore has grown significantly. At the end of March 2016, lending to customers stood at £6.5 billion and customer deposits totalled £6.2 billion.
For more information, please visit www.aldermore.co.uk.
Aldermore Bank PLC is an operating entity of Aldermore Group PLC. In March 2015, Aldermore Group PLC’s shares (ALD.L) listed on the Main Market of the London Stock Exchange.
Aldermore Bank PLC is regulated by the Prudential Regulation Authority and the Financial Conduct Authority and is registered under the Financial Services Compensation Scheme.