Bathgate secures finance package for family car service business
Wirral specialist Bathgate was introduced to Tip Top Service Centre which has been run by husband and wife team, Paul and Pam Worley, since the business was established in 2012
Wirral business funding specialist Bathgate Business Finance has secured a £45,000 cash injection for a family-run vehicle service centre
Bathgate was introduced to Flintshire-based Tip Top Service Centre by the Development Bank of Wales, which has supported husband and wife team, Paul and Pam Worley, since the business was established in 2012.
The deal, brokered by Ian Adams of Bathgate Business Finance, comprised a £20,000 loan from Boost Capital to support Tip Top Service Centre’s existing business growth and a £25,000 invoice finance facility with Chester-based Zodeq.
The business offers MOT, servicing, repairs and bodywork, and is also the first Raptor Coatings-approved approved centre in the UK. Following a move to a new, larger site on Northop Road in Flint in September 2017 the business experienced rapid expansion in its customer base and team, which has grown from three to 15 in under two years.
As a result, Paul and Pam sought financial assistance to support this growth and manage cash flow. Pam said: “Ian and the team at Bathgate Business Finance brought fresh eyes to our business and presented us with opportunities we didn’t realise were available to us. We knew about invoice financing from the years that Paul worked for large companies, but we thought we were too small to be eligible for such a facility.”
Ian Adams, from Bathgate, added: “Tip Top Service Centre is a really exciting family-run enterprise with fantastic prospects. Paul and Pam’s hard work and tenacity over the last seven years has built an exceptional business that had brought revenue and new jobs to the area.”