Yorks Sweeper Hire has secured a £500,000 invoice factoring facility from Skipton Business Finance, providing the Cranfield-based cleaning contractor with the financial flexibility to accelerate its expansion plans across the Midlands and South East.

The new funding arrangement represents a £150,000 uplift on a previous facility provided by a high street bank and comes with significantly enhanced terms.

These include Bad Debt Protection and an extended 120-day recourse period – features the company says are critical in a sector where long payment cycles are common.

TRANSFORMATIVE

Managing director Samuel York (main picture, left) said the switch to Skipton Business Finance had already proven transformative.

“We operate in an industry where it’s common for invoices to age beyond typical terms, and our previous funding partner offered little flexibility. The cost-effectiveness of Skipton’s facility, the higher credit limit, longer recourse period, and the inclusion of Bad Debt Protection – which is vital for a business like ours – all made the decision to switch one of the easiest I’ve ever made.”

The timing, York added, couldn’t have been better. “A major competitor recently exited the market, and Skipton’s support has allowed us to capitalise on that opportunity quickly and confidently.”

GROWTH OPPORTUNITY

Robin Edlington (main picture, right), associate sales director at Skipton Business Finance, said: “It’s rare to encounter a business at precisely the right time, but that was exactly the case with Yorks Sweeper Hire.

“They had a clear growth opportunity, but were being held back by an inflexible funding solution and a lack of debt protection. We were pleased to step in with a more tailored and competitive facility.”

In a light-hearted nod to the partnership, the team at Yorks Sweeper Hire even named a road sweeper ‘Robin’ in appreciation.

“To see that kind of recognition from a client is a first,” said Edlington. “My family and colleagues are getting a great deal of joy from it too.”

Founded in 2010, Yorks Sweeper Hire offers road sweeping, jet washing, gully emptying, and specialist surface cleaning services.

While much of its work comes from the construction industry, its client base also includes high-profile names such as Starbucks, McDonald’s and David Lloyd Gyms. The company operates across Bedfordshire, Buckinghamshire, Northamptonshire, Oxfordshire, Cambridgeshire, Peterborough, Leicestershire, and Hertfordshire.