All Traffic Products in Willenhall was founded in March last year and began full operations in September after navigating challenges caused by the pandemic and associated Government restrictions.
It makes steel tubes, brackets and road signage fittings for large construction contractors building and maintaining roads and highways throughout the UK.
The bank has provided All Traffic Products with a six-figure funding package tailored to its unique needs. This has increased working capital available to the business, crucially enabling it to take on new business opportunities and giving it the ability to supply products to clients at short notice.
The funding from Santander UK plays a critical role in supporting All Traffic Products’ aspiration to achieve its financial target by the end of this year. The company has additionally moved its day-to-day banking to Santander UK. It employs a staff of seven and aims to grow this to 10n by the end of 2022.
Mark Grice, managing director of All Traffic Products said: “Starting a new business is always a difficult proposition but to do it during a pandemic brings exceptional challenges. From the outset, we knew there were some critical decisions to be made regarding finance and cash flow so finding a suitable financial partner was an issue we researched very closely. 10 months on, we have firmly established ourselves in the very competitive highways market and are now looking to bring in state-of-the-art machinery and increase the workforce to meet demand. None of this would have been achieved without the dedication and hard work from everyone at All Traffic Products and the support of our financial partner, Santander UK.”
Dan Hopkin, invoice finance specialist at Santander UK, said: “The road building and maintenance sector continues to grow throughout the UK and All Traffic Products is well positioned to play a key role in supplying major contractors with critical components for their work. We are delighted to support All Traffic Products in achieving its growth aspirations by providing it this funding package and day-to-day banking services.”