Partner Article

Novastar cleans up with £250,000 funding package

A Milton Keynes specialist cleaning and facilities management business is set for growth after securing a £250,000 invoice finance facility from Birmingham based financier, Positive Cashflow Finance.

The funding package from Positive has allowed Novastar Europe Ltd to plan ahead and target high growth with the comfort of knowing a substantial funding line is available, should the business require it.

Prime mover, Colin Harrison has over 20 years’ experience working in this sector with the major retailers such and Tesco, John Lewis, Boots, Morrisons and various retail centers. This latest venture currently employs 55 staff and has aspirations of achieving a turnover of £3.5 million in 2014.

Colin Harrison, managing director at Novastar, said: “I am delighted to have the opportunity of developing a relationship with Positive, as they appear commercially realistic and show a genuine interest in helping us achieve our plans.

“Their approach with our customers has been sensitive and not intrusive and the assistance we have received has already allowed us to take on additional new business and allowed significant expansion into related areas.”

Joe Vasey, regional sales director at Positive Cashflow Finance, said: “Nova Star is a great example of a company with huge growth potential being held back by a lack of funding.

“We are delighted to have Nova Star on board and look forward to assisting with the growth of the business in the years to come.”

Positive is an independent invoice finance provider with offices in Manchester, Birmingham and Basingstoke offering facilities from £10,000 to £1m.

This was posted in Bdaily's Members' News section by Nick Chapman .