Yarco Fencing and Gates
Based in Great Yarmouth, Yarco Fencing and Gates install all types of fencing and gates for residential, commercial and security purposes. Offering a free no obligation survey and quotation service, they ensure that the gate or fence meets the needs of the client and is appropriate for the area it surrounds and protects.
Louise Sinclair and Andy Mansi both worked for Yarco Fencing when it was a division of Yarecrete, but Yarecrete went into liquidation in January 2013 as a result of the recession. They believed that there was still a good market for Yarco Fencing and the Yarco name should not be a thing of the past. As business partners, they wanted to re-establish Yarco Fencing in Norfolk and Suffolk, and needed finance for cash flow purposes.
Historically Yarco Fencing had always struggled with its cash flow, needing money to pay for supplies when ordered, manufacturing the fences and gates, and then waiting a minimum of 30 days before payment. This proved fatal for Yarecrete.
Learning from these mistakes Louise and Andy better organised the cash flow of the new company and approached their bank for a loan to bridge the financial gap between ordering supplies and payment for their work. They were declined due to insufficient trading record, but thankfully, the bank made them aware of Foundation East, who has helped many other small businesses who are in a similar situation. After submitting an application, Yarco was able to get the funds it needed from Foundation East to provide the high quality service it strives to deliver.
Currently Yarco employ 7 people which is a fantastic achievement when the name was all but over just under 3 years ago.
Louise said “When it was suggested that we apply for a loan from Foundation East I looked into it. At the time I thought that the process was long winded and I put the application to one side. This was not a good idea as the commercial work started to come in and I was struggling to fund the work. I looked at the Foundation East loan application again and went through the questions and projections that were required. Once I got stuck into it, applying wasn’t hard. Within a couple of weeks the loan was approved and things got a lot easier.”
Valerie Jarrett, Business Loans Manager for Norfolk said “Louise and Andy had great experience from the previous business and had learned from their mistakes. They have the perseverance and dedication that businesses need to succeed.”