CV workshop cashes in on sales growth with Skipton21 March 2019

Commercial vehicle maintenance business Riverside Commercial Services is reporting sales growth of 20% in the past year, and is managing this with help from invoice finance provider Skipton Business Finance.

Despite disruption from losing its founding director and shareholder last year, the Stockton-based company has won several new contracts and hired five new recruits.

Company accountant Lisa Cowley bought into the business and took on the role of finance director. She says: “We can now confidently say that we’re growing and moving in the right direction. It’s been a lot of hard work but it’s definitely worth it.”

When Riverside won several new deals, she turned to Skipton Business Finance for support and cashflow guidance: “The fact that we were able to act fast – and Skipton Business Finance were flexible enough to help – means we were able to manage this challenging situation appropriately.

“I explained the situation and in only a couple of days they arranged the payment. We may have struggled with this if we approached a bank, as it may have been a much longer process which could have hurt us in the long run.”

Greg Bell, managing director for Skipton Business Finance, adds: “If mismanaged, a move like this could have had a negative impact on the company’s credit and its financial health.

“Riverside Commercial Services were proactive in dealing with this situation and we are especially pleased we could help such an excellent company and long-term partner.”

Formerly M&J Commercials, Riverside provides servicing and maintenance for all makes of HGVs, vans and trailers.

Laura Cork

Related Companies
Skipton Building Society

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