Reward Pays Dividends

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Nationwide Frame Services is targeting strong business growth in 2022 and beyond with help from a £1 million working capital injection from Reward Finance Group.

The company is owned by brothers Paul and John King. It employs 60 people in Chorley, Lancashire. The firm is celebrating its 25th anniversary this year. The majority of the company’s business comes from the supply and installation of windows and doors for housebuilders.

Supplying the big boys

Despite the challenges in the UK construction market over the last two years caused by pandemic restrictions and supply shortages, Nationwide Frame Services has continued to deliver contracts to a a customer base including Bellway, Taylor Wimpey and David Wilson Homes.

Finance release

Nationwide has agreed a deal via the Reward Finance Group, an SME funding specialist, to release additional working capital to facilitate its growth plans as the business returns to and exceeds, pre-pandemic activity levels in a buoyant housing market.

Wane Group

Nationwide was introduced to Reward by the Wane Group, led by management consultant and former rugby league player and coach, Shaun Wane. The Wane Group worked in collaboration with the recently appointed company accountant Mike Hickman of Practical Business Solutions (NW) Limited, who worked together to find the best funding solution for the company’s needs.

 “Like many in our sector, our turnover felt the impact of Covid over the last two years because construction sites were initially closed, hitting build schedules, followed by supply chain issues. Despite all of this we remained profitable throughout.x”

– Paul King 

Director, Nationwide Frame Services

Cash flow

“However, it did have an impact on our cash flow, so we were keen to release money tied up in invoices, as well as having additional working capital to buy increased levels of stock to meet the growing demand,” continues Paul King. “Mike Hickman, together with the Wane Group, put us in touch with Reward as they knew they had a pragmatic and flexible approach to lending. We met with Mike Calvert from Reward who was impressed with the quality of our product range, the skilled team and blue-chip client list. He quickly supplied us with the funds we needed to push forward with our plans.”

 Mike Calvert, Reward’s business development director North West, adds: “Construction industry suppliers have faced some of the toughest challenges over the past couple of years because of the pandemic. However, the future is bright, as the UK urgently needs to build new homes. Nationwide is perfectly placed to work with housebuilders to meet the demand. We were therefore happy to provide the £1 million facility via our Asset Based Solutions product, which uses a number of assets as security, to provide the springboard for their next 25 successful years.”

Pictured: Mike Calvert (left) from Reward Finance Group with Paul King (right) and behind Mike Hickman (Practical Business Solutions), Shaun Wane (Wane Group) and John King (NFS).

Article written by Cathryn Ellis
12th April 2022

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