XP Recruitment targets new sites with seven figure facility
Secure Trust Bank Commercial Finance has provided industrial and logistics employment specialist XP Recruitment with a seven figure invoice finance facility to help support its ambitious growth strategy.
Founded in 2004, XP Recruitment has over 60 years’ combined experience in placing and training candidates for temporary industrial and driving roles. The company employs 14 staff across its four UK sites in Northampton, Hemel Hempstead, Kent, and Kettering and holds contracts with major blue-chip organisations across London, the South-East, and East Midlands.
XP Recruitment offers training to its staff with the support of a 24/7 consultancy service. The agency offers a range of training services, such as support to achieve certificates in driving standards, helping its employees secure jobs and maintain a high level of ability.
The finance from Secure Trust Bank will allow XP Recruitment to pursue its expansion plans and grow its presence in a recruitment sector worth £31.5bn to the national economy. The company plans to launch a new Leicester branch in 2017, in addition to another site in the South of England the following year.
Secure Trust Bank Commercial Finance provides asset based lending facilities from £500k to £30m to help SMEs grow. The firm provides a full suite of products, covering plant, equipment and invoice finance.
Adam Holby, director at XP Recruitment, said:
“Expanding the business into new locations while maintaining our tailored, supportive service is at the forefront of our growth strategy. To achieve our objectives, we needed a finance facility that is both flexible and affords us a greater level of control over our finances.
“Secure Trust Bank offered a straightforward approach, working closely with us throughout the deal process and taking the time to fully understand our business.”
David Parsons, strategic development director at Secure Trust Bank Commercial Finance, said:
“The recruitment industry continues to demonstrate strong levels of growth, and with over 1.6 million temporary employees in the UK in 2015, the potential for businesses to expand in this market is exceptional.
“By putting the required funding in place, XP Recruitment now has the tools to do exactly that. With its personal approach to ensuring its employees are given the best possible support and its talented management team, the business is well positioned to progress its new sites in the next two years.”
Photo caption: David Parsons, strategic development director at Secure Trust Bank Commercial Finance