- First quarter trading off to encouraging start for local start-up, GPS Logistics
- DSP contract secured with large national retailer
- Company supported by our invoice finace and banking teams
The first quarter of trading has got off to a positive start for new Falkirk-based logistics company GPS Logistics.
Since setting up in February 2015, the business has increased the number of routes it operates from three to 17. Already this has exceeded the annual target of 15. GPS Logisitics was established by Frank Gillespie. Gillespie spotted a gap in the local market for companies offering a delivery service to larger businesses.
Our banking and finance teams have provided financial backing to support this new business and its impressive growth."
Frank Gillespie, Managing Director of GPS Logistics Limited:
"I have worked in the logistics industry for over 32 years and have plenty of experience running and managing operations in this area. I decided to set up my own business earlier this year after I spotted an opportunity in the local market."
"The business is growing quickly and we are establishing ourselves well. The plan for the next ten months is to stabilise the business and its growth. I want to ensure things are running smoothly before actively pursuing further expansion and additional clients."
"GPS has secured a working capital facility with RBS Invoice Finance. It's designed to support cash flow whilst the business becomes established. The company has also secured banking facilities with RBS."
"The support I have received from the Royal Bank has been unfaltering. Both teams have gone the extra mile to help get the business off the ground. The invoice finance facility is proving to be invaluable in helping us to retain a smooth cash flow. We invoice our customers on a monthly basis but the facility enables us to fund vehicle costs and pay drivers weekly."
Paul McLachlan, Business Development Manager (invoice finance):
"Invoice finance is an excellent facility for start-up businesses as it helps support working capital as the business grows. Frank has a wealth of experience in this industry and we wish him all the best."
David Simpson, Relationship Manager at Royal Bank of Scotland:
"I'm pleased that we have been able to support Frank in achieving his ambition of owning his own logistics company. We are passionate about supporting local businesses and start-ups."
Security may be required. Product fees may apply.
ANY PROPERTY USED AS SECURITY, WHICH MAY INCLUDE YOUR HOME, MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER DEBT SECURED ON IT.