Wolverhampton contractor secures multi-lender funding to fuel the next stage of growth 

Wolverhampton contractor BAX Construction Ltd is entering its next phase of expansion after securing additional finance from four Midlands lenders. The funding follows a five-year journey that has seen the business scale from an £800,000 turnover company to one turning over around £7.5 million. 

Together, the lending facilities provide BAX with the working capital to take on larger local authority and commercial construction projects. The business has recently secured seven-figure contracts with Wolverhampton and Sandwell Councils. 

Building on strong foundations 

Founded by Managing Director Ben Anslow in 2020, BAX Construction provides refurbishment, maintenance and construction services across the West Midlands. The company specialises in local authority and social housing work, including kitchens, bathrooms and roofing, alongside commercial refurbishments and urban regeneration projects. 

Ben self-funded the business from launch, growing the company without external lending before accessing finance to support its next stage of development. Alongside its contracting activity, the company is also leading the regeneration of the former Express & Star building on Castle Street in Wolverhampton, transforming parts of the site into Fused, a beauty salon and wellbeing centre. 

Ben Anslow said: “Our growth has been exponential and this funding gives us the backing to keep pushing that further. Cash flow is everything. You can be as profitable as you want as a company, but you need the capital to grow. I’ve got strong support from FlexABL and the other lenders now too. Looking ahead, we could be doing £10 million next year.” 

A collaborative funding approach 

FlexABL’s relationship with BAX began through an invoice discounting facility introduced by Select Business Finance. As the business has grown and its working capital requirements increased, FlexABL has agreed to implement a much improved invoice discounting facility up from £300,000 to £500,000, alongside term lending from ART Business Loans, BCRS Business Loans and Frontier Development Capital. 

Chris Jones, owner of Select Business Finance, commented: “The business had grown massively over the previous couple of years, and it was clear that a loan of that size wasn’t going to come from one lender. This is a fantastic example of collaboration. We couldn’t have done it without everyone involved talking to each other and having a real desire to make it work. This is one of the deals I’m most proud of in the 18 years since I started Select, and it’s fantastic to see what we achieved together.” 

The collaboration is part of Midlands SME Finance, a network of experienced, regionally focused lenders working together to help Midlands businesses access the right finance to grow, thrive and achieve their ambitions. Through collaboration, lenders can combine their specialist expertise to create flexible finance solutions for businesses with more complex or evolving needs. 

The funding was delivered by an all-female team from FlexABL, ART Business Loans, BCRS Business Loans and Frontier Development Capital, bringing together expertise from across the Midlands SME finance community. 

Kirsty Ibbotson, Director at FlexABL, explained: “We’re not just an invoice finance lender behind a computer, we’re human-led. It’s about understanding a client’s business well enough to know the right finance solution for their needs. This was a great example of collaboration across the Midlands SME Finance community, working alongside ART Business Loans, BCRS Business Loans and Frontier Development Capital to put the right finance structure in place for Ben and the business to thrive.” 

Roz Haque, Business Lending Manager at ART Business Loans, added: “No one lender could have done the whole thing alone, so it was about bringing us all together to find the right solution for the client. It was a lovely business to work with, with a young, dynamic director and a company delivering real social impact. The numbers are only half the story. The other half is getting to know the people behind the business and doing the right thing to help them grow.” 

Lynn Wyke, Senior Business Development Manager at BCRS Business Loans, noted: “We put a plan in place to help Ben Anslow in the long term, taking a 12-month view of his cash flow position rather than just focusing on the next two or three months. His passion is undoubted and the company’s clearly got a great future ahead. From our perspective, it was about making sure the funding structure works for the business as it continues to grow.” 

Abbie Talbot, Investment Manager (MEIF) at Frontier Development Capital, shared: “I joined in January this year, and this was actually my first deal. It was a big achievement for me, and I was passionate about finding the right solution for the business. Meeting Ben in person made all the difference in understanding what he needed and how we could best help. There’s a new age of talented entrepreneurs coming through in the West Midlands, with a strong network around them.” 

Putting the funding to work 

The combined facilities give BAX the working capital required to take on larger local authority and commercial contracts, fund materials and labour ahead of payment, and continue its ambitious growth plans. 

Ben Anslow concluded: “I haven’t taken on external lending in the past; I’ve always managed my own cash flow. But with the level of growth we’ve experienced, it was becoming increasingly difficult to do that alone. 

“I can’t speak highly enough of FlexABL and the other lenders involved. They’re accommodating and down to earth. If you were dealing with a large bank, you wouldn’t necessarily have that same connection with your lender. 

“It gives us the flexibility to keep growing, and I’ve already referred other people to FlexABL because of the way they work. If you’d have told me three years ago I’d be in the position I am today, I’d have probably laughed. I’ve got 20 staff in the office and another 100 subcontractors working for me daily. It’s about relationships and maintaining them, always being honest, humble and accountable. I wouldn’t have been where I am today without FlexABL.”