Time Finance Backs Cheshire Recruitment Start-Up To Fuel Early Growth

Independent SME lender, Time Finance, has facilitated growth plans for Wilmslow-based TBOS Healthcare Solutions with a £50k Invoice Finance (IF) facility, building momentum and unlocking working capital to drive future success.

The specialist funding facility from Time Finance is allowing the recruitment business to stabilise its cashflow and support early-stage growth as it places temporary and permanent healthcare staff into organisations across mental health, addiction, and homelessness services.

Like many recruitment businesses, TBOS's business model requires the weekly payment of temporary workers while invoicing its clients thereafter. The Cheshire-based start-up required a flexible funding solution that was structured around signed weekly timesheets for its temporary staff, allowing them to access funding as soon as hours were approved and invoiced.

Time Finance's specialist Invoice Finance division was able to lend securely and flexibly and provide immediate financial relief, enabling TBOS Healthcare Solutions to pay its workers on time, accept more contracts, and continue to build its client base within the healthcare sector. The funding continues to provide stability while the business scales its operations.

Andy Hume, Head of Sales (North) at Time Finance, commented: "For many start-ups, access to the right specialist solutions in the lending market can be limited; major high street banks typically base any facility arrangements around historical financial data and available collateral, which of course leaves many new businesses like TBOS without a trusted funding partner to help facilitate their plans.

"It's been a pleasure working with Josh to understand the nuances of his business and how cashflow and invoicing really work for them day-to-day. Solutions such as Invoice Finance are a no-brainer for growing businesses. By offsetting the invoices as they come through, Josh can focus on what's important: growing his business and new client base, rather than chasing unpaid invoices and managing cashflow challenges."

By stabilising TBOS's cash flow, Time Finance enabled the business to partner with some of the largest private healthcare providers in the sector, as well as the majority of councils across the country, helping to accelerate their expansion plans. Due to the company's impressive growth trajectory, Time Finance has since doubled its Invoice Finance facility with TBOS to £100,000. This additional funding provides further headroom for TBOS to continue scaling its operations and grow its client base.

Josh Brown, CEO at TBOS Healthcare Solutions, commented: "Before having this facility in place, cashflow was a real challenge for the business, but it's been made much smoother and we can now focus on growing our client base and building the business from the ground up. Time Finance has been brilliant from day one, and I'd definitely recommend them to any other start-ups looking to take their business up a notch.

"The whole team has really taken the time to get to know the business, explain everything as clearly as possible and make the whole process very simple. They're an easy-to-deal-with lender who are always at the end of the phone. Since putting this Invoice Finance facility in place, we've taken on our largest client to-date, with whom we now have an exclusive partnership."

Founded by recruitment professional Josh Brown, TBOS combines industry experience with a growing network of clients and candidates, alongside plans to expand through technology and CRM development.

Time Finance provides flexible funding solutions for all kinds of businesses, including start-ups across the UK. Its specialist solutions include: Multi-Product Solutions, Invoice Finance and Asset Finance.