Lloyds TSB Commercial Finance Supports Morgan McKinley’s Plans for Continued Growth and Development.
Morgan McKinley’s vision is to become the first port of call for recruitment in financial services. Having already achieved top three status in its sector, Morgan McKinley is well on its way to achieving its vision. The recipe for the company’s success is a passionate and determined management team, a comprehensive range of recruitment services and the continued support of Lloyds TSB Commercial Finance.
The relationship between Morgan McKinley and Lloyds TSB Commercial Finance began in 1999 and since then, the company has gone from strength to strength due to a number of exciting developments. The company’s turnover has also increased from 18.8 million in May 2003 to a
projected turnover of 32 million for the 2004/2005 financial year.
In June 2004 Lloyds TSB Commercial Finance was keen to further support Morgan McKinley’s plans for continued growth and development and increased Morgan McKinley’s invoice discounting borrowing facility from 1.6 million to 2.5 million. Invoice discounting allows a company to receive up to 85% of an invoice value which is advanced within 24 hours of an invoice being raised. This is done by releasing money against unpaid sales invoices. The remaining balance is then made available when the customer settles the outstanding invoice.
The increased finance allowed the company to invest a substantial amount into its Employee Benefit Trust. One of the ways we are encouraging employee development is by launching the Employee Benefit Trust. This incentive offers share ownership and the company has made a third of its shares available to staff. The EBT is another example of our innovative reward and retention strategy, ensuring we attract and retain the best recruiters in the market, says Robert Thesiger, Managing Director of Morgan McKinley.
The Employee Benefits Trust is just one of the ways Morgan McKinley is striving towards its vision, Morgan McKinley is at an exciting stage of its development and ongoing support from Lloyds TSB Commercial Finance has given the organisation the flexibility to continue to expand at an inspiring pace. says Phil Holt, Finance Director of Morgan McKinley.
Dave Sinclair, Client Manager at Lloyds TSB Commercial Finance comments, I believe the success of Morgan McKinley can be attributed to the excellent management structure. If you have a firm belief in your ideas and are not afraid to seek funding to support them then you are well positioned to reap the rewards of a successful and productive future. Lloyds TSB Commercial Finance can assist with the working capital and funding requirements to proactively support future growth, and offer a wide range of Asset Based Lending products to suit most businesses.
For further information on Lloyds TSB Commercial Finance contact 0800 55 00 22 or visit their website www.ltsbcf.co.uk.
Lloyds TSB Commercial Finance Supports Morgan McKinley
Morgan McKinley’s vision is to become the first port of call for recruitment in financial services. Having already achieved top three status in its sector, Morgan McKinley is well on its way to achieving its vision.