- Business name: Mor Cross
- Location: Oxfordshire
- Sector: Transport
- Turnover: £1m
- Funding provided: £200,000
Bibby Financial Services has been providing our firm with funding for over 18 years and we rely on a steady stream of funding to operate our business efficiently throughout the year. The additional funding also provides us with capital that we can put back into the business to grow our fleet of vehicles. As a haulage provider our fleet is at the heart of our business.Gemma Bush, Director, Mor Cross
Andrew Morley founded Mor Cross Transport Services Limited in 1991 to provide reliable and efficient haulage services. Since then, Andrew’s daughter Gemma has also taken to the running the business with her brother Ashley, who is a driver and responsible for sales. Their uncle Keith works in the firm as a mechanic responsible for maintaining the firm’s fleet of vehicles.
The family business has a long-standing relationship with Bibby Financial Services (BFS) which has provided funding to the company for over 18 years. Since then, the company has moved into specialist haulage services for traction and temporary structures in the UK.
BFS’s most recent Invoice Finance funding line of £200,000 provides the business with ongoing cashflow support during quiet seasonal periods, as well as providing working capital which can be invested in new vehicles, fuel and maintenance costs.
Mor Cross Transport Services vehicles can be seen carrying everything from the temporary structures for Chelsea Flower Show and music festivals to a replica Spitfire for a show at Blenheim Palace as well as eight-ton quarry stone blocks.
Gemma Bush, Director, Mor Cross Transport Services explains:
“Bibby Financial Services has been providing our firm with funding for over 18 years and we rely on a steady stream of funding to operate our business efficiently throughout the year. The additional funding also provides us with capital that we can put back into the business to grow our fleet of vehicles. As a haulage provider our fleet is at the heart of our business.
“Since I started working in the business, we have focused our operations to the UK, where we have a long standing and strong client base. This means we no longer need to divert our efforts overseas.”
Sarah Payne, Relationship Manager at Bibby Financial Services said:
“Seasonal businesses rely on a steady stream of funding to keep the business on track throughout the year. With over 18 years’ experience in funding the business we have developed a strong relationship with the company and understand the needs of the business inside out.
“Like BFS, Mor Cross is a longstanding family business and shares some of the core values that we do. As a result, the relationship we have with them extends 18 years and is still going strong.
“Factoring services are ideal for businesses like Mor Cross Transport Services that face cashflow challenges.
“With payment terms in the industry elapsing in excess of 60 days in some cases, using Invoice Finance means that the gap between raising customer invoices and getting paid is bridged effectively and puts the business on the road to growth.”
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