CCR Magazine

CCRi banner ad
You are here  :Home arrow News arrow Geo mines £500k invoice and stock finance facility from Aldermore
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines

Headlines

 
Commercial Credit News

Headlines

 
Geo mines £500k invoice and stock finance facility from Aldermore PDF Print E-mail
Tuesday, 15 November 2016
Geo, a supplier of quality construction products which recently took ownership of the Little Ponton Quarry in Grantham, Lincolnshire, has agreed a £500,000 Asset Based Lending facility from Aldermore, the specialist lender and savings bank. 

Geo extracts stone, washed sand, gravel and ready-mix concrete from its quarries, while its recycled aggregates department sources construction by-products which it turns into new materials, offering environmentally-friendly and cost-effective solutions for its customers.

The company was established in September 2015 and opened a 38 acre quarry with a 7.5 million tonne reserve of limestone in Grantham, Lincolnshire earlier this year.

The Asset Based Lending facility from Aldermore will enable Geo Quarries to continue the exploratory work that it recently began at the Grantham site, and specifically into an area of the quarry that is expected to yield a brick-like aggregate. Furthermore, the business intends to add new quarry locations and invest in its vehicle and plant fleet in order to better serve customers across the UK.

John Duffy, CEO of Geo Quarries, commented: “We are very proud of the sustainable solutions we have been able to create in all our core markets. For example, we have recently been approved as a supplier for highways in Northamptonshire as the stone from our quarry is a more sustainable alternative to the granite that is typically used in highway contracts. The facility from Aldermore will help us to reduce our carbon footprint and to grow the company further.”

Stefan Radymski, Head of Business Development, Invoice Finance at Aldermore, said: “John has a wealth of experience in quarrying, construction, civil engineering and property, and we’re confident that the business will continue to thrive under his leadership. Geo experiences a seasonal slowdown in production operations between September and February each year. The invoice and stock finance facility will not only help the company’s exploratory work in the Little Ponton Quarry, but also help the business to manage cash flow throughout the year. Now that the Geo has its facility, greater success is only a stone’s throw away.”
 
CCRI
3 October - Guoman Tower Hotel, Central London 

CCRInteractive, in association with Marston Holdings , is the largest and leading one-day conference from the publishers of CCRMagazine – a truly national and international event for the credit industry.

This landmark event allows delegates to: Learn best practice of how to increase profitable sales in today’s economy. Understand the key compliance issues and how they will impact upon you. Discuss the legislative and regulatory framework and how it will effect you. Consider the potential effects of Brexit on your business. Discover the latest innovations in the market to improve your collections. Motivate your staff to achieve ever improved results.

To book to attend in 2017, contact Stephen Kiely  or Alison Lucas. To find out more about being part of this landmark event, please contact Gary Lucas
CCRI 

 Forums International Ltd

Forums International Ltd

 Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.

Find out more here.

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online

The Credit Excellence Awards

Awards 

Tuesday 3 October - Guoman Tower Hotel, Central London


Do not miss your chance to meet and network with the Winners and Finalists at the Credit Excellence Awards, in association with Hoist Finance.


To book your place to attend, please contact Alison Lucas.


subscriptions

CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


 

Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road
Southend-on-Sea
Essex
SS1 1EP

Registered in England No: 05483197