Fern Global has secured a £250,000 factoring facility from Lloyds TSB Commercial Finance.

The Sheffield-based firm provides permanent and temporary staff for firms in the construction, engineering, industrial and clerical sectors.

The firm says the funding is based on the business’s issued invoices and grows in-line with sales, ensuring the company can capitalise on the improving economic conditions without being held up by payment terms.

Stephen Mclean, director at Fern Global, says: “We found 2008 and the beginning of 2009 tough as the recession hit and more and more businesses stopped recruiting. However, last year was our most profitable yet as an increasing number of employers sought temporary workers.

“With the support of Lloyds TSB Commercial Finance we are now in a position to capitalise on the improving conditions and this year we are on track to have our most profitable year since inception.”