Fast growing parts supplier doubles inventory thanks to Funding Circle investors

Jason Farrugia, director of Spartan Motor Factors, had been an officer in the RAF for 8 years. As his family life changed through marriage and having kids, working away from home and being sent abroad began putting a strain on his personal life.

He knew his strengths lay in finance, but needed a partner who’d learnt a trade. In 2012 he teamed up with a friend who’d spent 15 years in the car parts business, and Spartan Motor Factors was born. The company has gone from strength to strength specialising primarily in supplying car parts to local garages in South Wales.

Jason had an opportunity to expand his business

When the opportunity arose to expand into new premises, the friends knew they needed fast access to finance to secure the new site.

Before opening a new branch, Jason told us, you need to get staff in place at least two months in advance to ‘deal with the stock, setting up computer systems and visiting local garages. But, obviously you don’t reap the rewards in terms of cash flow for a good one to two months down the line.’

To expand and help with cash flow, Spartan Motor Factors borrowed £75,000 back in May 2014. Accessing finance from Funding Circle allowed them to open a new branch at short notice and build a mezzanine floor in their Cardiff branch, doubling their stock.

Meet Jason in this short video, see the team in action, and find out how the Funding Circle loan has lead to more profits:

[embedyt] https://www.youtube.com/watch?v=8GKn4Agrk7k[/embedyt]

Looking to expand your business?

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