
Hillcrest Structural Limited has been a successful steel work contractor since 1981. In that time, it has established a long list of happy customers and an unblemished financial record. Today, the company seeks a £50,000 loan so it can increase its working capital and pursue the big projects it is capable of. Hillcrest has grown substantially since CEO Jamie Green completed a management buyout in 2009, and the company is ready to take another step forward. Though the firm has traditionally operated without working capital facilities from banks, some new growth opportunities make it the right time.
A Good Industry Moment
The construction industry is solid and getting stronger, so it's a prime time for Hillcrest to grow.
"The strength and vibrancy of the market has enabled the company to grow in turnover terms from £3.3 million in 2009 to £6.49 million in 2015 since Jamie Green's MBO," said Neil King, a consultant for the firm. "This growth is coupled with margins being improved & a history of profitable trading."
Newly won contracts include the bus station at Portsmouth and a £1.8 million contract for the MacLaren. Hillcrest's excellent work will help these projects come to life, but they could prove a challenge on the administrative side. An influx of cash will ensure Hillcrest can deftly complete these contracts and take on other massive projects.
An Unblemished Record
This loan is guaranteed with a corporate guarantee and through personal guarantees from Jamie Green and his wife, the company's directors who have a networth of £88,000. The company has 34 years in the business without financial problems, and since Green took over in 2009, business turnover has grown 50 percent. Hillcrest's management and financial advisers are confident in the company's ability to promptly pay back this loan.
Since Green took ownership, the company has "paid down a £1 million plus earn out MBO repayment agreed with the previous owner, thus demonstrating the company's ability to pay down significant debt from cash flow and without bank support."
You can visit
Hillcrest's lending page to learn more about the company and the loan and to ask questions directly of management, which will respond promptly.
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