"We had been using the services of a major high street bank in the past, but I was recommended to talk to Aldermore and I was impressed by what I saw and heard about them," explains Rooney. "I decided to switch our invoice discounting facility to the Bank's Invoice Finance in March 2011 and it had an immediate, positive impact on our business."
In fact, within the first five months of joining Aldermore, Rooney reports turnover had increased by more than 20 per cent, as the brand focused on expanding its scale of operations.
Rooney had seen significant opportunities to grow the shop-fitting business since obtaining a 75 per cent majority share in 2005, as several major retailers made the decision to undergo store refurbishment programmes. However, he felt he had to be confident short term cash-flows were covered before considering any large investments to push up production volumes.
As Rooney puts it;
"The shop fitting industry is extremely competitive and we needed to ensure our finances were in good order, so that we could win and deliver against a number of lucrative new contract opportunities. Cashflow is critically important and an effective way to strengthen our cashflow position is by the use of invoice discounting."
While the profitable effect on Europanel's business has undoubtedly been the most crucial advantage of Aldermore's tailored invoice discounting products, Rooney is equally appreciative of the Bank's commitment to superior customer service.
"I am particularly impressed by Aldermore's staff, who always have their fingers on the pulse and effectively act as extra members of our credit control department," confides Rooney. "Within a couple of days of being introduced to Aldermore, we were 'up and running' and ever since then Aldermore's staff have been very helpful, flexible and supportive. I would not hesitate to recommend Aldermore to any company looking for invoice discounting facilities."
Aldermore Client Manager, Emma Muir, expressed thanks for Rooney's comments, admitting,
"It's been very rewarding helping a progressive British business such as Europanel fulfil its potential. Even during a difficult recession, firms across the country have been able to grow and prosper and Aldermore is delighted to have played its part in supporting Europanel."
Aldermore now look forward to continuing to enable Europanel to go from strength to strength, and hope to help many other promising small businesses reach their true potential in 2013 and beyond.
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