An East Yorkshire timber specialist has reaped the reward of a decade-long partnership with its finance provider as it doubles its annual turnover.
Since partnering with SBF after the recession, Bayram Timber has increased its annual turnover from around £12 million to £24 million and increased employee numbers from 99 to 165.
The Financial Director of Bayram Timber, Ian Jordan commented:
“Despite the challenging economic times we have worked hard as a business to achieve this growth. Skipton Business Finance offered us a chance at a time when others were less willing and over a decade later this partnership continues to pay off.”
“Our original funder was no longer willing to fund invoices with the clients we had in the caravan manufacturing market, which was also struggling at the time of the credit crunch.
“We had to search for alternative options and were rejected by the large business bank lenders. We did receive alternative funding offers but they were either insufficient to meet our working capital requirements or had restrictive conditions attached”
The Managing Director of Skipton Business Finance, Greg Bell said:
“It’s more important than ever to work with people you trust and who trust you. Strong partnerships can really help businesses get through difficult times as you can manage the risk together.”
Bayram Timber is the market leader in the provision of bespoke timber products, largely supplying Scandinavian softwoods to the UK caravan manufacturing market, as well as to garden building manufacturers and fencing contractors.