Reach case study: Food retailer

I was introduced to a new-start business by their accountant as they required funding for working capital. They work in the retail sector and their clients had them on quite lengthy payment terms.

They were a little dubious to speak with us at first as we were a broker, and they were already speaking to the bank but they were unable to assist which came as a surprise to them as they had business banking with them.

I explained that as they are a new start business with a relatively small turnover it might be best to explore a smaller independent funder to start with. That way they could hold their hand through the early stages.

An invoice finance facility was put in place around 2 weeks later, and 2 years down line they are still with the same finance provider, and the business has flourished to over a £1,000,000 turnover. Due to the relationship I have built with them over the years they have come back to Reach for vehicle finance amongst other things.

It hasn’t always been straight forward obtaining finance for them, but due to them being very open and honest from the start about personal and business circumstances we have always been able to source them the funding they’ve needed.

At Reach we feel it’s very important to build a relationship with our clients to ensure you are sourcing the right type of funding for them. This in turn with enable the business to flourish especially in the early stage, as some businesses can fail if the wrong advice is giving.

Client testimonial

Kate, , managing director, food retailer: "I felt compelled to write about Mike from Reach Commercial finance, almost two years ago we set up our hospitality business unfortunately the banks wouldn't, apart from giving us a bank account, offer us any funding to enable our business to grow.

"I was given Reach Commercial F number, although I felt a little dubious of calling them as I thought they would want high rates etc, but after speaking with Mike he put my mind at ease, extremely understanding, down-to-earth and supportive of our ideas and plans I felt secure in knowing he would help us with finance.

"Mike offered us business finance which we still use today. After having the business a year we needed a new vehicle we called Mike immediately who put us in touch with a company who was also just as fantastic in delivering their service as Mike was.

"I have had no problems or concerns with any of their options they have offered us! I would not hesitate in recommending anyone who is looking for finance to contact these guys ask for Mike he will deliver! Keep up the good work guys."

Enjoyed this? Read more from Reach Commercial Finance

Latest news

1

Three weekly domestic waste collection considered in plans Waste recycling Blackpool

Three weekly domestic waste collection considered in plans

01 Jul 2025

2

Graham Engineering confirms acquisition to a2e Industries Graham Engineering

Graham Engineering confirms acquisition to a2e Industries

01 Jul 2025

3

Training 2000 celebrate 'Good' rating by Ofsted Training 2000

Training 2000 celebrate 'Good' rating by Ofsted

01 Jul 2025

4

Fox Group acquires J Fisher and Sons Colin Fisher, Paul Fox CEO and Gary Fisher.

Fox Group acquires J Fisher and Sons

01 Jul 2025

5

Beever and Struthers strengthen leadership team with new partners Dean Curtis and Joe Diston

Beever and Struthers strengthen leadership team with new partners

01 Jul 2025

Background image for hub sign up block

LBV Hub

Leverage Lancashire Business View platforms

Post your news
Post your events
Post your offers
Build your network
Improve your SEO
Gain coverage in the magazine
Sign-up
Events
LBV123 July/August Launch Event
Lancashire Business View magazine launch
Networking
16 Jul 2025

LBV123 July/August Launch Event

Burnley

08:30 - 10:30

Lancashire Built Environment Conference 2025
BEC 315 X 315 Px
Networking
25 Sep 2025

Lancashire Built Environment Conference 2025

Blackpool Football Club, Blackpool, FY1 6HX

08:30 - 13:00

CMI Level 5 Management and Leadership Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Management and Leadership Course

Preston Campus, Preston , PR1 2HE

09:00 - 17:00

CMI Level 5 Project Management Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Project Management Course

Preston Campus, Preston, PR1 2HE

08:00 - 17:00

Chamber Breakfast Networking – July
Chamber Logo1.png.png
LBV Hub Networking
02 Jul 2025 - 02 Jul 2025

Chamber Breakfast Networking – July

St John's Hospice, Slyne Road, Lancaster, LA2 6ST

08:00 - 10:00

The Marketing Metrics that Matter – July 4
LBV Hub Seminars
04 Jul 2025 - 04 Jul 2025

The Marketing Metrics that Matter – July 4

Door4 Office, Burnley Wharf, Burnley, BB11 1JG

08:30 - 11:00

Tri-Site Survey Equipment Showcase
unnamed (2).jpg.jpg
LBV Hub Seminars
09 Jul 2025 - 09 Jul 2025

Tri-Site Survey Equipment Showcase

Crow Wood Hotel, Burnley, BB12 0RT

09:30 - 16:00

Chamber Summer BBQ
LBV Hub Social
17 Jul 2025 - 17 Jul 2025

Chamber Summer BBQ

The Borough, Dalton Square, Lancaster, LA1 1PP

17:30 - 20:00

Preston Tech Connection: Web3 is Dead. Or is It?
July Longer Banner.jpg.jpg
LBV Hub Networking
29 Jul 2025 - 29 Jul 2025

Preston Tech Connection: Web3 is Dead. Or is It?

Society1, Coworking Space, Preston, PR1 3LT

18:00 - 19:30

Preston Freelancer Meet-Up: July
Longer July Banner.jpg.jpg
LBV Hub Networking
31 Jul 2025 - 31 Jul 2025

Preston Freelancer Meet-Up: July

Society1, Coworking Space, Preston, PR1 3LT

10:00 - 11:30

Cumbria Business Expo 2025
https---cdn.evbuc.com-images-880461633-4862066883-1-original.20241022-110415.jpeg.jpg
LBV Hub Exhibitions
19 Sep 2025 - 19 Sep 2025

Cumbria Business Expo 2025

Carlisle Racecourse, Carlisle, CA2 4TS

09:00 - 15:00

North West Business Expo 2025
https---cdn.evbuc.com-images-880456273-4862066883-1-original.20241022-105445.jpeg.jpg
LBV Hub Exhibitions
24 Oct 2025 - 24 Oct 2025

North West Business Expo 2025

Bolton Stadium Hotel, Bolton, BL6 6SF

09:00 - 15:00

Advertise with us

Reaching 50,000 members, our print, digital and event platforms offer a fantastic way to raise your business profile and help you grow.

Find out more LBV122 Online Graphic
Subscribe now

Weekly news bulletin