UK commercial finance brokerage, TSF Finance in Glasgow, says its SME clients’ burgeoning, post-lockdown order books have helped it reach a £100 million funding milestone within just two years.
The company is also celebrating becoming the first broker in Scotland to be named “Factoring and Invoice Discounting UK Broker of the Year for 2021”* by their industry governing body, NACFB.
Alan Anderson, Managing Director of TSF Finance says, “During lockdown, many businesses delayed investment. Lockdown reduced their cash reserves to allow them to tread water and survive until trading conditions became clearer”.
“The good news is that we find business appetite has returned with a vengeance. Many of our SME clients have healthier order books than for quite some time, even pre-pandemic, and now find themselves with insufficient working capital to fund required growth.”
“While this is good news for our company, it also indicates genuinely encouraging business prospects. We have helped our clients achieve £100m of funding in just two years, based on the very real prospects and appetite for continued growth in orders.”
TSF Finance itself opted not to furlough staff during lockdown and instead focused on increasing its geographical scope and reputation. Now operating successfully across the UK, TSF Finance works across a wide range of sectors, including construction, haulage, manufacturing, engineering, food & drink and recruitment.
Alan Anderson said, “There are so many gloomy stories about at the moment but people shouldn’t think all business news is depressing. Having set up just before the pandemic struck, we have not only remained busy but have been able to increase professional staff numbers from two to nine over the period, with further increases forecast.
“And while our own growth has exceeded expectations, the underlying demand for finance to fund SME business development in Scotland is also hugely encouraging.”
