Newland Engineering specialise in the design and manufacture of mobile and fixed position multi-telescopic conveyors for warehousing, distribution and logistics companies across the globe.
Founded in 1962, Newland begun creating proprietary systems to help automate workflows, by reducing the need for the manual handling of non-palletised goods. Since then, they have continued to innovate and grow, designing bespoke systems for entire warehouses and distribution facilities.
Lynn Kerfoot, Managing Director, commented that, “helping customers improve efficiency and reduce costs is one of our primary objectives, to succeed in that, we’re continually developing and improving our products and services.”
Cashflow is integral to Newland’s business model, as Lynn explains, “every unit is manufactured bespoke to the customer needs, requiring a significant outlay of funds during the design and manufacturing process. The more complex the system, the greater the time between the initial order and delivery, when the final balance is paid.”
Although a deposit is usually taken when a system is ordered, it’s not always the case. Compass and Newland initially began speaking, when their bank was unable to help assist them in securing the funds to help finance one such order.
“We’d already received funding supported by the Coronavirus Business Interruption Loan Scheme (CBILS) from our bank to cover delayed installations and customer payments and weren’t sure where to go for additional support to cover this project, so we attended an MTA webinar on Funding Options.”
“Following the webinar, Deborah from Compass contacted us to see if she could help. I explained our requirement to her and she was able to organise the funding we needed including additional CBILS support. Deborah kept us informed through the process, which was simpler and faster than our initial experience with the bank, with far less paperwork.”