Yorks Sweeper Hire secures £500k funding to drive growth

Yorks Sweeper Hire has secured a significant boost in its growth ambitions thanks to a new £500,000 invoice factoring facility from national finance provider Skipton Business Finance. The new funding deal clears the way for the specialist cleaning company to expand operations and capitalise on fresh opportunities, following the exit of a key competitor from the market.

The Cranfield-based business, which offers a range of surface cleaning services including road sweeping, jet washing, and gully sucking, says the improved funding arrangement marks a turning point in its financial flexibility. The new facility represents a £150,000 increase over its previous deal with a high street bank and includes more favourable terms, such as a 120-day recourse period and Bad Debt Protection.

Managing Director Samuel York praised the new partnership with Skipton: “We operate in an industry where it’s common to have debts that age more than others, and the facility and business we’d been working with before Skipton had very little flexibility. The cost of Skipton’s invoice factoring facility; the increased credit limit and recourse period; and the inclusion of Bad Debt Protection, which really is vital for a business like ours; all added up to making the decision to switch the easiest business decision I think I’ve ever made.”

The timing of the deal also proved critical, with a major competitor recently exiting the market. “A big competitor of ours fell away recently, creating a growth opportunity for us that Skipton’s facility has really helped us to capitalise on,” York added.

Founded in 2010, Yorks Sweeper Hire operates across multiple counties including Bedfordshire, Buckinghamshire, Northamptonshire, Oxfordshire, and Cambridgeshire. While a significant portion of its business comes from the construction sector, it also serves high-profile clients such as Starbucks, McDonald’s, and David Lloyd Gyms.

“You sometimes meet a business at just the right time and with Samuel and Yorks Sweeper Hire, that’s certainly been the case. They had a growth opportunity, an inflexible factoring partner, and a clear need for Bad Debt Protection.”

So pleased were the team at Yorks Sweeper Hire with the support received, they named a road sweeper after Robin Edlington!

“To be able to step in and provide a bigger and more competitively priced facility and help them as they strive towards growth has been extremely gratifying,” Edlington said. “And, then, of course, there’s Robin the road sweeper, which my family, friends, and colleagues are all taking a great deal of joy in.”