Healthcare recruitment specialist IOS Care Recruitment has secured a £250,000 invoice finance facility and commercial loan with the help of Wilson Field Financial Solutions.
Invoice finance funds IOS growth
The financing has allowed the Cardiff-based firm, which specialises in the placement of temporary and permanent care professionals, to recruit 42 full time staff and fund an extra 1,500 hours of care a week.
Director Chris James said; “This finance has allowed us to extend our full time placed care workers by 40 staff. This equates to an extra 1,500 hours a week that we are now able to fund. We have also recruited two full time first aid trainers.
“We have put together a rock solid two-year financial plan for the business through an invoice finance package and a flexible commercial loan for IOS.
“These two products combined give us the financial security to move the business onto the next level in a safe and secure position.”
Chris added; “I met Joe Patrick from WF Financial Solutions about four years ago when he introduced us to invoice financing for the first time. I had been running IOS Care for about four years, about to pass the £1m turnover mark and was looking to finance growth in the business via additional staff and marketing.
“We have developed a great working relationship and straight away I saw and understood the benefits of working in partnership with a dedicated independent broker. We went forward with the proposal and used it to our advantage.”
Joe Patrick from Newport-based Wilson Field Financial Solutions, said; “I keep in contact with Chris very regularly so we can talk about all financial matters and check in on the financial health of IOS, so should any problems that may occur can be tackled quickly.
“Like most businesses, Chris has a lot of his working capital tied up in outstanding invoices, thanks to invoice finance 90% of these funds are now released immediately and this has helped Chris greatly strengthen his cash flow.
“The facility is painless to set up and easy to use and gives clients immediate access to funds that otherwise they would have to sometimes wait months to have payment for. It was a genuine pleasure to help Chris.”
Chris added; “Joe has proved to be a tremendous asset to my business. He finds the best possible solutions.
“He has always been there for me, no matter what time of day or night or even if he’s on holiday and I am able to talk to Joe as director to director, friend to friend.
“As managing director of a growing recruitment company it is important to surround myself with like-minded, conscientious and talented people, and to me, that is Joe.”
IOS Care, founded in 2009, is part of the 30-year-old IOS Recruitment and Training Services Ltd and provides registered nurses, social workers, care managers, care assistants, support workers, teaching assistants, learning support assistants, domestics, cooks and kitchen assistants to the public and private sector.
Its clients include hospitals, nursing and residential homes, schools, supported living providers, prisons, hostels and nurseries.
IOS Care also provides care specific training to establishments throughout the UK.
For further information on IOS Care Recruitment call 02920 538943 or visit ioscare.co.uk