Commercial laundry business set to clean up new contracts with funding boost

As demand for UK staycations increase, family-owned Lakes Carpet Cleaning Solutions, are in a strong position to capitalise on the surge in new business opportunities having secured a six-figure funding line from Time Finance. 

Lakes Carpet Cleaning Solutions specialise in carpet and upholstery cleaning to hotels and holiday homes across the Lake District. However, like many businesses, they found themselves knocked off course by COVID-19. With the government lockdown restrictions forcing the hospitality and leisure industry to close its doors to the British public, the demand for their cleaning services reduced significantly. With fewer contracts to fulfil, cashflow became a concern and the need for a flexible funding solution to support them through the crisis was sought.

Time Finance plc (LON:TIME) is an AIM-listed business specialising in the provision or arrangement of funding solutions to UK businesses seeking to access the finance they need to realise their growth plans.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Facebook
Twitter
LinkedIn
Time Finance plc

More articles like this

Time Finance plc

The power of refinancing

In the ever-changing landscape of business, seasonal fluctuations can be a constant worry, especially for small to medium-sized businesses (SMEs). Cashflow, inventory management, staffing, and overall business stability are just a few of the potential issues

Time Finance plc

Time speeds up as profits increase by 35%

Time Finance is on schedule with its four-year strategic plan that focuses on growing its lending book to increase revenues. Pre-tax profits have clocked in at £2.7m for the six months to November – with the

Time Finance plc

Encouraging first half for Time Finance

AIM-listed independent specialist finance provider Time Finance has reported increased revenues and profitability in its half-year results. In a trading update for the six-months ended 30 November 2023, the group recorded revenue of £15.7m, up 19

Time Finance plc

Time Finance sees profits soar by 35%

Bath-based alternative finance specialist Time Finance has seen its revenue increase by 19% from £13.2m to £15.7m. In an update for the six-months ended 30 November the AIM-listed company said it is on track with its

Time Finance plc

Time Finance appoints relationship executive

Time Finance has welcomed George Tierney as relationship executive in its invoice finance team. Tierney (pictured) joins with two years’ experience in the field, having started his career as a credit controller in Bibby Financial services.

Time Finance plc

2024: A new era for SME lending

2023 has been marked by resilience and adaptation amongst the SME community. Faced with a fluctuating economy, SMEs were agile, balancing cashflow with investment, and responding to the changing needs of the market. As many contended

Time Finance plc

Methods of financial forecasting explained

Businesses can’t gaze into a crystal ball to see the future.  But they can turn to methods of financial forecasting to help offset pressure, plan critical strategies, and more – even the introduction of helpful solutions

Time Finance plc

Asset finance lenders remain bullish

Two years of soaring inflation, the highest interest rates since 2009, soaring energy costs due to conflict in Ukraine and the Middle East, plus a general election on the horizon have reduced the appetite for SMEs

Time Finance plc

Unpicking this year’s Autumn Statement

‘110 measures for growth’ was a bold statement from the Chancellor in this year’s Autumn Statement, and it’ll be tricky to scrutinise in full but there were some big announcements this time around. Not least of

Time Finance plc

Time Finance facilitates Management-Buy-In with £900k ABL Facility

Time Finance announced the successful completion of a £900,000 Asset Based Lending (ABL) facility which has been used to facilitate the management-buy-in (MBI) of established wastewater services provider Active Pump Services Limited. The multi-product facility, secured by commercial

Time Finance plc

Time Finance announces record lending and makes senior hires

Bath-based alternative finance specialist Time Finance has reported record levels of lending and announced two senior appointments. In an update ahead of its half-year financial results, the AIM-listed company said continued “positive trading momentum” had seen

Time Finance plc

Time Finance appoints Paul Hird as Non-Executive Director

Time Finance has appointed Paul Hird as Non-Executive Director. Hird, who currently holds a number of non-executive and board-level positions, has been appointed to the Time Finance board to support the delivery of its long-term growth strategy.

Time Finance plc

National Career Development Month: Changing career paths

Developing a career is not always linear and climbing a professional ladder can sometimes involve a side step or two to unlock the potential in your skillset. This National Career Development Month, we’re exploring the breadth

Time Finance plc

Why is green asset finance on the rise?

According to recent research from Time Finance, 82% of customers believe it is important for businesses to have green credentials, and we are seeing many businesses prioritising sustainable strategies – including green asset finance solutions – across the board.  This

Time Finance plc

Cash flow management: The complete guide

Cash flow management can mean the difference between success and failure for a business. But for thousands of SMEs across the UK, late payments from customers are causing serious damage to their financial health and impacting