It’s been just over 4 months now since I joined Pulse Cashflow, and it’s been a busy and exciting time.
As many of you know, I don’t move around that often and when I announced I was leaving my previous employer after a decade to take up the opportunity at Pulse Cashflow, I received a lot of positive comments and also some honest feedback on how the business is perceived. It was all very interesting and was largely in line with where I saw Pulse fitting into the market – specialising in small but complex deals that no one else wanted. But as you will see, I was surprised at what I found.
So how is it panning out? I have to say that I am genuinely impressed with the business and the team here at Pulse Cashflow. I know you would expect me to say that, but I have found a lot more than I bargained for.
A diverse range of great clients
Historically we have not been the first port of call for a vanilla funding deal, but we are a credible funding partner for all deals. We work with a diverse range of businesses and at the heart of our funding decisions is the quality of the debt not the strength of their balance sheet. So, unlike mainstream lenders who may shy away from a more challenging deal, Pulse Cashflow are open to discussing all opportunities. Our flexible approach makes us stand out from the crowd. We pride ourselves on our flexibility. Whilst many funders talk about flexibility, we have earned a reputation for being flexible.
I was surprised to learn that our average client:
- has an annual turnover of £2.5 m
- benefits from a £350k funding facility and
- stays with us for 3 years
We are committed to supporting a wide range of businesses, from trading newstarts (projecting £350k turnover in year 1) through to businesses turning over £20m+.
A supportive parent keen to invest
I have been hugely impressed by the support and the vision of our parent Cubitt Trade Holdings. They are committed to our ambitious growth plan and are generous in their advice and support to helping make those plans happen whilst leaving us to do what we do best – delivering flexible funding solutions.
Strong leadership and a can-do culture
I’ve known Toni Dare, the MD for many years and appreciate her straight talking, pragmatic, fast paced, get things done approach. It’s these qualities which make up the culture of the business and one which is evident across the whole business. She was upfront about the ambitious plans she and the co shareholders have for Pulse Cashflow and I’m very excited about not only our potential but the enthusiasm for investment and growth.
Sales vs Operations – good bedfellows?
We have all experienced the challenge of getting deals through credit and how frustrating it can be when the process takes so long and eventually fails to get credit approval. Getting deals done relies on teamwork and I have been impressed by the strong relationship and open lines of communication between sales, operations, and credit teams at Pulse Cashflow. We work as a combined team from the outset with one objective of getting the deal done. They really are an excellent example of how it should be done. Getting quick answers – be that a no or a yes – is what you and your clients expect. It’s this relationship that means we can take each deal on its own merits, taking the time to understand the business and how it works. In doing so it does mean that we feel comfortable taking on those deals that other funders won’t commit to.
A desire to expanding our geographical presence
With an initial sales team of three a key element of my plan was to recruit a robust and credible sales team to cover the UK and fast! I am delighted to have secured some well-known names in the industry to join the team. We now have a strengthened and well-formed team of seven providing a great regional spread across the UK:
- Wayne Spratt – Yorkshire and Northeast
- Martyn Freshwater – East Midlands
- Rebecca Salt – West Midlands
- Nic Hanson – Wales and Southwest
- Keith Godfrey – London and Thames Valley
- David Wright – Southeast and London
With all that experience it is no surprise that they have hit the ground running. As one team, we can offer you and your clients a personal, flexible, straightforward, and responsive service.
A commitment to investing in solutions to support your clients
As one team we can now offer a broader product portfolio to meet the varying needs of UK businesses. We are delighted to be able to offer:
- funding facilities up to £2.5m
- Invoice finance with inclusive bad debt protection – confidential and disclosed
- Credit control and sales ledger management - disclosed and confidential options
- ICON – In Case of Need – this is a standby facility set in place and ready to deliver funding, whilst funding is not required you pay only an administration fee to cover the credit control service
In addition to this we have recently launched One Fee Finance to widen the support we offer to the SME market. One Fee Finance:
- is aimed at supporting businesses with a projected turnover up to £350k and upwards
- offers an immediate and maximum funding line of £100k inclusive of bad debt protection
- includes a sales ledger management and collections service
- has a fixed fee of 2.95% of turnover with a minimum monthly fee of £550
- no set up fee
- minimum term of 6 months
We are committed to improving our funding solutions and are working hard to expand our offering. In the coming months we have plans to offer a:
- new and improved range of outsource solutions to include pay and bill, for all types of businesses including those in the recruitment sector
- trade finance solution
Pulse Cashflow are committed to supporting UK business looking to access a funding facility to support their growth plans. We are a stronger business than ever before with robust funding lines in place and backed by a strong parent. As the UK moves forward on the road to recovery, businesses will be looking for funders willing to support them through uncertain times. We aim to provide that certainty of funding in good times and in bad, so our clients have the reliability of funding they need to make their plans happen. I am really excited about the future and working with you to help provide funding solutions to your clients to support their growth plans.