October 9 - Lift It Crane Hire has obtained a GBP250,000 (USD383,920) invoice finance facility from Secure Trust Bank Commercial Finance.
The UK headquartered crane and specialist transport vehicle provider said the funding would be used to assist cash flow, while allowing it to develop its 24-hour service offering.
Lift It currently runs a fleet of ten cranes with lifting capacities ranging from eight and 30 tonnes, plus specialist machinery moving equipment.
Secure Trust Bank set up its Commercial Finance arm in September 2014, as the bank made a push into SME lending. In the first half of 2015, it saw lending surge 214 percent and processed over GBP100 millionof client invoices.
Graham Witts-Davies, managing director at Lift It Crane Hire, said: "We supply our vehicles to an increasingly diverse range of sectors, including energy, construction and shipping. It is therefore vital that in order to provide a flexible and efficient service, we are able to deploy our fleet in a way that maximises its usage. The funding has provided us with the capital required to place our vehicles more effectively."
Craig Stritch, regional sales director at Secure Trust Bank, added: "At a time when construction activity is reaching pre-recession levels, demand for cranes and other specialty vehicles is rising. This means that the 24-hour service offered by Lift It is set to become increasingly valuable."