Finding a reliable and flexible finance provider with a facility to suit your business can be difficult but when you find the right provider it can be very rewarding.

This year Midlands based recruitment firm, Strategic Placements Ltd (Strategic Placements) and Lloyds TSB Commercial Finance, will celebrate 10 successful years working together.

Strategic Placements, founded in 1999, was a small start up business when it first approached Lloyds TSB Commercial Finance about opening a current account in 2001. As the business began to grow, Strategic Placements found that cash flow was becoming an increasing problem and turned to the Recruitment Finance Division for a funding solution that would help them manage the financial strains of a growing business.

Commercial Finance, Recruitment Finance Division experts have an excellent understanding of the sector and the challenges that staffing companies face, and were happy to help.

They have worked closely with Strategic Placements over the past few years providing a number of financing solutions. The most recent of which is a bespoke £525,000 invoice discounting facility aimed at helping the business to grow, increase its cash flow and manage the day to day financial pressures of running a successful business.

Since putting the new facility in place Strategic Placements has also grown its team, adding two new apprentices, as well as successfully winning and taking on a number of new contracts.

Linda Moulds, Client Relationship Manager at Lloyds TSB Commercial Finance, Recruitment Finance Division, commented: "We are delighted to be celebrating 10 successful years with Strategic Placements and look forward to strengthening our relationship further over the next 10 years.  

"Strategic Placements is a key example of how having a good relationship with your finance provider can offer significant rewards. Our close relationship with the client has allowed us to offer the best possible solutions for their specific financial difficulties. We know the business, its track record and its existing and new business pipeline so we were able to offer a personalised solution to meet their specific needs and in turn helped them to continue growing."  

Jim Davies, Managing Director at Strategic Placements Ltd, Said:  "Over the years we have built up a strong relationship with Lloyds TSB Commercial Finance and like the fact that they offer a recognised brand with the added bonus of a bespoke solution to suits our specific needs. The back office support has been excellent and the whole team have been very helpful.

"With interest rates at an all time low invoice discounting offers an easy, reliable and affordable way of financing the day to day running of the business whilst allowing us to continue to grow. We have recently taken on two new apprentices and have been able to engage in new contracts because of the advice and facilities that the Recruitment Finance Division has provided."