Recruitment company seals fresh growth funding
A second funding deal in 18 months for Huntingdon-based recruitment firm CJ Logistics Solutions, brokered by Reach Commercial Finance, has delivered a six figure injection of working capital and a similar increase in the firm’s existing invoice finance line.
The new deal, secured by the leading brokerage firm, will help the business manage increased demand and fund a planned office move for 2021.
Set up in 2015 CJ Logistics Solutions specialises in the recruitment of high quality HGV, van and warehouse drivers across the UK.
Sourcing both temporary and permanent staff the firm has quickly established itself as an experienced and reliable recruitment partner for a range of clients in the logistics sector.
A sister business – CJ Employment Solutions – focuses on permanent senior appointments for general commercial firms, providing roles in administration, customer services, purchasing and accounts.
After successful sourcing an alternative funding solution in June 2019 Reach stepped in again to meet a new brief from the ambitious firm – and all delivered within five weeks.
The deal involved access to a six-figure sum of working capital, using a CBIL, and, via Bibby Financial Services, an increase to the existing Invoice Finance credit line.