Graham Parr found commercial success when he acquired the lighting franchise he had joined in 2014. After spotting a niche in the market, Graham decided to establish Kwiklite as a business that specialised in energy efficient lighting. The resulting business enables firms to save substantial amounts on energy bills, outweighing installation costs.
With an emphasis on efficiency, Kwiklite has secured commercial lighting contracts with large firms, such as Bristol Street Motors and McCain, both of which wanted to reduce their outgoing costs and in-turn, lower their carbon footprint.
With the business thriving and taking on five full-time members of staff, Graham wanted to expand its sales presence and open a new office to provide a wider national presence. In the past, however, the business’s growth ambitions were stifled by cashflow restrictions due to extended customer payment terms throughout the company’s preferred sectors.
It was at this stage, following a recommendation from a friend, Graham contacted Bibby Financial Services’ Construction Finance team which has specific expertise in funding contractual debt. Within a week, Graham had his funding from BFS and tied-up cash soon started to flow.
Graham said: “Lengthy payment terms meant that my business could not reach its full potential and meet the growth strategy that we had planned.
With traditional bank lenders unwilling to help, BFS was recommended to me by a friend as an alternative method of funding. BFS’s customer service is second-to-none and the speed at which we were able to access funding was extremely impressive.
A key trait of Kwiklite is building long lasting customer relationships, whether it be suppliers or customers and it is fantastic that we have found a funder that believes in the same ethos."