A Midlands engineering subcontractor has reported improved stability and growth ambitions a year after securing a £650,000 asset-based lending facility.
Speedflex Engineering has credited a funding package from Time Finance as a turning point in its recovery, following a period of irregular and delayed income that had placed pressure on the business.
The Worcestershire-based firm secured a £650,000 asset-based lending facility made up of a £250,000 confidential invoice finance facility and a £400,000 asset finance facility. The deal was designed to address cashflow volatility and support operational investment.
According to the business, the facility has enabled investment in machinery and recruitment, while providing a more stable platform from which to pursue new markets.
Stephen Dunstall, managing director at Speedflex Engineering, says: “When we first met with Time Finance, we were struggling with irregular cashflow; one month we could be taking three times our usual income and the next very little.
“A changing order book is typical of our industry, but it can be unpredictable and difficult to manage. Without the ABL solution from Time Finance, I don’t believe we would still be operating today.”
Dunstall also points to the contrast with more traditional funding routes.
“Before partnering with Time Finance, we struggled with the lack of flexibility from traditional banking. When dealing with Time Finance, I’ve felt understood by real people who know the challenges we face as a business, who take our individual circumstances and needs into account.
“We have received genuine flexibility when we need it most.”
The firm is now entering its second year with the facility in place, with a focus on smoothing income and supporting longer-term growth.
“As we move into our second year with the ABL solution in place, the focus remains on leveling monthly revenue and preparing for a future of independent, sustained growth.”
Rob Walters, business development manager at Time Finance, says the deal reflects wider demand for flexible funding among SMEs facing uncertain trading conditions.
“While rumbling geopolitics and an uneasy economy continue to cause a strain on many businesses’ livelihoods, Speedflex entered 2026 with renewed optimism.
“Specialist ABL facilities are a lifeline for many businesses like Speedflex. They work by directing a cash injection into the business for them to invest in their necessary equipment.
“Alongside this, we provided an invoice finance solution to release cash tied up in unpaid invoices. With this in place, the business has been able to focus on its strategic partnerships, including efforts to streamline procurement and expand contract reach – which is fantastic news.”
The lender said the combined facility structure was intended to provide both immediate working capital and longer-term investment support, helping the business manage fluctuating revenues while planning for expansion.
