Podcast: Hyde Accessible Transport: from the pains of invoice finance to a lender that backed growth with Shaun Delaney

It provides vital transport to wheelchair users, disabled people and children, and vulnerable members of the public. It has grown from a first year turnover of £325,000 to a projection for six million this year, and operates a growing fleet of fully accessible vehicles.

While growth has been dramatic, the business has multiple large expenses and its clients' payment terms or patterns can mean it is paid on 60 or even 90 days. When it needed to borrow, banks could not help and it resorted to invoice finance, which proved expensive and inflexible. When a broker put Shaun in touch with BEF things changed.

Play or download the episode here. You can also find it in Spotify, Amazon Music, Apple Podcasts, and many other podcast apps:

Shaun covers the business' history, and:

• how Hyde's first, £125,000 loan was followed by another and it has invested in additional vehicles and created jobs because of this finance

• it now holds three times as many contracts as when it approached BEF

• meeting the Business Secretary, Jonathan Reynolds

• the importance of having the right equipment

• getting the right finance at the right time

• what to do if you want to secure contracts with local authorities and public sector authorities

Also on this episode: BEF investment manager, Chris Conroy, on what a business can do to put itself into the best possible position to apply for finance.

What next?

• More about Hyde Accessible Transport: https://www.3939tameside.co.uk

If you are looking to start or grow your business with flexible finance, get in touch at [email protected]