Case Study

Growth back on the agenda with £950k funding facility from Pulse Finance

Specialist recruitment agency, DRS are planning a programme of continued growth as they take greater control of their finances thanks to a £950k funding facility from Pulse Finance.

DRS are an experienced, family run and independent recruitment business specialising in both temporary and permanent driving, industrial and commercial recruitment. With bases in the North West, The Midlands and Wales, their 20 years’ experience within the recruitment industry ensures they deliver a simple, tailored and outstanding recruitment service to both clients and candidates.

The Group consisting of separate businesses handling different recruitment needs had grown significantly building up a Group with turnover reaching £3.3 million. They put their continued success down to their flexible approach tailoring their solutions to match their clients requirements be that straightforward recruitment of specialist skills, psychometric testing or fulfilling agency requirements.

DRS had historically funded the different parts of their business through a small invoice financier but as the business grew and they were looking to restructure their Group, their funder could not keep pace and DRS found themselves outgrowing them. Following an internet search, they identified Pulse Finance as a suitable funding partner. Pulse Finance were able to provide a combined facility across the Group of £950k. Transitioning from their incumbent funder to Pulse Finance went smoothly with no disruption to the business.

As Jemma Keywood-Bellamy, Director of DRS Recruitment commented “We were apprehensive about changing funder because our customers are quite traditional in the way that they do things. However, we didn’t need to worry as Pulse Finance have proven to be great to work with. They treat us like real people – not a number, listening to us and working with ourselves and our clients as we would wish. They are always so responsive at coming back to us and are very open and honest in their dealings with us. Our online account helps us to maintain control as it allows us to see movements on a day to day basis so that we can match our spending to income coming in. Having greater control means that we can plan what we want to do and when. The facility also provides us with access to credit information on our customers which helps us make informed decisions on customers as we understand their ability to pay us.”

With the facility in place, the business now benefits from an increased supply of working capital which they can use to seek out new contracts. As Jemma continues “Every company wants to grow but needs the available cash to do this. Pulse Finance focus on keeping up to date with how the business is performing and as such are happy to grow the facility with us.”

As Toni Dare, managing director of Pulse Finance concludes “Reviewing your finance facility is an important thing to do to ensure that it is continues to be right for your business. DRS needed a facility that could grow with them as their business changed and we were delighted to help. With more control over their cashflow they can focus on making firm plans on how to develop their business. We look forward to watching their continued success.”