IGF constructs £200k funding line for Rubico
IGF has delivered a £200k invoice finance facility for Lincolnshire-based construction and maintenance firm Rubico.
Rubico sought a new finance partner to provide an injection of working capital into the business, and began working with IGF in July 2017. The facility will allow Rubico to win larger contracts across the wider retail sector, particularly within the food and beverage industry, as well as meet its future ambitions to hire more staff and expand outside of its current premises in Stamford.
Rubico began in 2015 after its founder identified a gap in the market to service and maintain the properties of larger clients in the retail industry. The business provides blue-collar project maintenance of offices and high street retail locations across the whole of the UK.
Luigi Cocozza, commercial director at Rubico, said:
“Previous financiers we have dealt with made us feel like a number on a spreadsheet, but IGF’s high level of service and dedicated customer care really impressed us. The team proved that it understood our business back-to-front, and we’re pleased with the facility to date.”
Matt Taylor, regional sales director at Independent Growth Finance, adds:
“The construction industry is well-known for its late payment issues, and often businesses in this sector find mainstream lending difficult to attain. Rubico is a young but growing business, and we’re delighted to be supporting the firm as it scales and achieves its goals for expansion.”