Applebridge construction – Civil engineer undergoing rapid growth
Applebridge Construction provides a variety of civil engineering services to the construction industry across Yorkshire and the North East of England. They work with an array of clients in residential, public and industrial sectors.
The company has recently enjoyed rapid growth and, in only its third year, expects to turn over £30m this financial year. Due to the unpredictable nature of the industry, Applebridge uses invoice finance to help bridge cash flow challenges.
Chris Brown, Commercial Director, said: “Construction is inevitably a difficult environment in terms of payment. Invoice finance mitigates some of the shock that can happen due to late payments.” Applebridge Construction had previously used invoice financing through another provider, but outgrew its limits quickly and the team soon realised they would need another option.
In addition to needing a higher funding limit, Applebridge was looking for a more flexible service that would allow them to fund individual invoices, rather than having to finance their entire ledger.
Applebridge has been using MarketInvoice Select since 2015. MarketInvoice Select is a selective invoice discounting service that enables fast access to funding, as and when the business needs it. “The flexibility provided by MarketInvoice suits our business perfectly”, said Chris.
Applebridge have also been impressed by the high quality of personal service offered by MarketInvoice: “We were a bit concerned about leaving our previous finance relationship, but we needn’t have worried. We have a great relationship with Alex, our account manager at MarketInvoice. If we need extra support, we know that we can just can pick up the phone.”