Like many businesses, mechanical and electrical engineering firm, Scorpion ES, have faced challenges during the pandemic but thanks to helpful advice from Cornerstone Commercial Finance they are back on track.
Incorporated in 2010, Scorpion ES set out to provide mechanical and electrical services to the construction sector, but the business has since evolved and now works to provide rail infrastructure, facilities maintenance and civil construction services.
With the company winning a number of national UK rail contracts but enforced social distancing restrictions in place, the number of workers attending each site was limited and as a result, projects experienced significant delays. Scorpion ES Managing Director, Richard Clatworthy, recognised that access to funding during this time was essential to maintain cashflow to support operational expenses and turned to Cornerstone Commercial Finance for advice.
Richard Clatworthy explains:
“We were determined to come out of the pandemic stronger and set out on a large-scale investment drive to bring new talent into our firm and to take on new contracts with confidence.
“We were working on a number of large-scale rail contracts but were aware that we could have an issue with cashflow, due to extended client payment terms. We turned to our trusted advisors at Cornerstone as we needed help and advice to find a funding solution.”
Cornerstone Commercial Finance recommended Time Finance, which specialise in the provision or arrangement of funding solutions to UK businesses which are seeking to access the finance they need to realise their growth plans. With an extensive portfolio comprising: Asset Finance, Invoice Finance, Loans and Vehicle Finance on offer, businesses have the flexibility to choose the best option for them or to choose more than one solution dependent on requirement.
“Cornerstone’s advice has been invaluable and the funding solution from Time Finance has been instrumental in helping us to bring these goals to life. We are confident that we can now look optimistically towards the future with an understanding and flexible funding partner by our side.”
Matt Godfrey, Senior Commercial Manager at Cornerstone Commercial Finance, said:
“Scorpion ES was a fantastic client to work with. Once I had spoken with Richard to understand his business, I knew that Time Finance would be the perfect funder. I have partnered with them for several of my clients and they have always delivered exceptional service, so I knew Richard’s business was in safe hands.”
Janice Quick, Business Development Manager at Time Finance, added:
“We have seen so many businesses affected by the challenges of the last year and we have remained committed throughout that time to supporting businesses to get them through and back on track. It’s been a pleasure to support Richard and the team. We took the time to understand the business and tailor a funding facility that would tackle the immediate cashflow issues caused by the pandemic but be flexible enough to match their future growth ambitions moving forward.”