SoilEx eyes expansion with £450k Time Finance facility

SoilEx, a Hertfordshire-based environmental construction waste management specialist, has secured a £450,000 Invoice Finance facility from independent lender Time Finance to support its next phase of growth.

The new funding line is enabling SoilEx to expand its range of services to the construction industry, including soil and waste testing, removal, and complex remediation projects, as it continues to experience rapid year-on-year growth.

Founded in 2019 by Managing Director Alex Collman, SoilEx was established to bridge a gap in the market for an integrated consultancy and contracting service focused on sustainable, cost-effective construction. With turnover now doubling annually, the business plans to use the facility to pursue new contracts, recruit additional staff, and invest in equipment, while maintaining fair and timely payment practices across its supply chain.

“Processing contaminated waste is expensive and when we launched, Invoice Finance aided cashflow for us to get off the ground. It has been a crucial part of our financial planning and growth since. We often need to mobilise large contracts quickly and we need capital to be able to facilitate delivery. Invoice Finance allows us to seize more opportunities and be less cautious.

“As with many industries, construction is known for late invoice payment; we often find ourselves being paid outside of our payment terms, but we are determined never to pass that practice on to our own suppliers. Invoice Finance makes prompt payment possible, and paying our suppliers on time has helped build our reputation and helped grow our client base.

Collman added that the move to Time Finance has been transformative: “Having used another finance provider in the past, I moved to Time Finance because they spoke my language. Everything moved quickly and felt straightforward. Knowing the funding is there when we need it gives me peace of mind.”