Recruitment company leaps ahead with new funding facility
Within 18 months of starting the business, Hertfordshire-based Jump Recruitment now has a team of ten full time employees and is currently placing 80 to 100 staff a day with its clients. It is aiming to double those numbers having agreed a £125k funding line from Ultimate Finance.
The company was started by experienced recruiter Jim Zamba and his brother Theo in June 2014 to supply permanent and temporary personnel predominantly to the industrial sector covering jobs such as, forklift truck drivers, warehouse operatives, removal teams, construction workers and HGV drivers.
The company soon attracted work from blue chip companies based in Hertfordshire, Essex and London which operate across the UK. Two months after starting the business they appointed Joe Cappalonga as branch manager to help with the work load.
“The team has a great work ethic and is well respected by its clients”
To meet Jump’s ambitious growth targets, Ultimate Finance has provided the company with an invoice finance facility. Having to pay the people it places on a weekly basis and its clients taking up to 60 days to settle invoices, has a big impact on cashflow. With the £125k facility, Jump is able to receive payment against the invoices within a few days of them being issued.
Speaking about the rapid growth, director Jim Zamba said,
“We have built the business on honesty and professionalism so that our clients can trust us to find the right person with the correct qualifications who will be reliable, turn up on time and won’t let them down.
“Jump has an excellent team which cares passionately about the business and knows that our reputation depends on them. We all work well together and there is a real family atmosphere about the place.
“We are thankful to Ultimate Finance for recognising the potential and for supplying the facility to help us grow the business.”
Matt Speed, regional director of Ultimate Finance is pleased to support Jump.
“We were introduced to the company by Euan Bonnar at leading London brokerage, Touch Financial and I quickly recognised that the company had enormous potential. I also identified that its progress would be hampered by additional new contracts putting a strain on cashflow."
“The team has a great work ethic and is well respected by its clients I had no hesitation therefore in providing the new facility in order to release the cash that would have been tied up in outstanding invoices.”