Challis Recruit secures invoice finance package from Ultimate Finance

Recruitment firm Challis Recruit Ltd has secured a funding package from Ultimate Finance to support rising demand and ease short-term cashflow pressures as the business expands.

The company, which supplies skilled staff into the construction and engineering sectors, had been constrained by limits set by its previous funder. Credit approval on its largest debtor had been capped, and the overall facility limit was not increased, restricting the firm’s ability to take on new work. At the same time, Challis Recruit was in the process of relocating its premises, creating additional working capital requirements.

Following an introduction by broker Mark Critchlow of Clearview Corporate Advisory, Ultimate Finance structured a package that included a £350,000 invoice finance facility with debtor protection, alongside a £40,000 cashflow loan to support the premises move. The new arrangement also included approval of the key credit limit on the company’s largest customer and an increase in the overall facility limit to align with future sales plans.

Vinnie Dobie, regional director at Ultimate Finance, said: “We saw a strong business being held back by inflexible limits.

“By pairing an Invoice Finance solution with Debtor Protection and a targeted Cashflow Loan, we unlocked immediate working capital and covered the costs of the move – all agreed and paid out in under a week”.

Mark Critchlow said: “Ultimate Finance are pragmatic and decisive. We’ve trusted them for six years because they deliver exactly what clients need – fast approvals, flexible structures, and minimal fuss. On this occasion, they approved the key debtor limit and completed in just days”.

Challis Recruit said the new facilities have already supported day-to-day operations and enabled a smooth relocation. With the revised debtor limits and increased headroom, the business is now able to take on additional work, with early indications of rising sales following the funding.