15 August 2018James E Smith (Northern)
The Hull-based timber specialist was set up in July 2009 and has rapidly built a £6.5 million sales ledger. As an intermediary the company was aware of the need to trade securely and through Estelle Nunes of brokers TL Risk took out insurance cover with CIFS.
Says the company’s Louise Jackson: “Estelle suggested we look at First Limit, which she felt might tick a lot of boxes for us. Like most companies in our sector we need to make instant decisions on new accounts – it’s not uncommon to have a salesman on the ‘phone who has a prospective new customer on another line at the same time waiting for a decision. First Limit gives the ability to secure that business
“At the same time most of our first-time customers ask for credit of around £5,000 which our First Limit arrangement with CIFS can accommodate.
We get a high positive hit rate which is important to us – a number of our enquiries are from relatively new companies and First Limit helps us start trading and then build an account.” =m
Also important, says Louise, is the automatic notification of any change in that decision. “We were recently told that we could now trade with a new company which had been declined 7 months ago. That’s really good – it’s like getting a new highly qualified sales lead.
“We wanted First Limit to help us open new sales avenues and it’s delivered on that. I think it’s a well set up product that really helps our company and, importantly, it’s priced to provide good value.”