CFS Bodies was started a little over 18 months ago by Cliff Marks, Shenaaz Wilson, and Frikkie Burger. Originally, their focus was on building new refrigerated truck bodies, but like many other SMEs, were forced to adapt to the Covid-19 pandemic.
As a result of the economic uncertainty, fleet managers were not looking to purchase new vehicles, but rather looking to repair existing assets.
Their pipeline was filling up, but without the proper cash flow, they could not keep up with the demand. They followed the usual route of applying for traditional funding and ran into all the usual hurdles.
Then they discovered Investmint.
Faced with a rapidly growing pipeline, but a cash crunch that was slowing down the procurement of materials and keeping staff idle, CFS posted their first 5 projects in May 2021, requesting 60-70% of the order value in order to cover their direct material cost and received their funding 24 hours later.
This money was used to restart production and has been instrumental in kick-starting growth.
When asked about how CFS has fared since working with Investmint, Cliff said:
“Since we’ve been with you from May, we’re not that frightened to grow the business. We’ve probably taken on about 10 to 15% more people from when we started with you.”
“Our business has grown 30% since we started with Investing. And the only reason that the growth is so small is because of the uncertainty in the market.”
We’ve actually increased our gross profit margins by between 2 and 3% over the last few months, and to me that’s phenomenal.”
That was achieved primarily as a result of decreasing idle time where the team was waiting for materials to arrive - a testament to how quickly the funding process is completed.
What is most refreshing about CFS Bodies is their positive outlook. They are people who believe progress and growth are possible - and it’s our mission to support them.
“We’re trying to keep ourselves alive, keep our people alive, and hold on to this little company till the point when the economy does come back. I’ve got faith. Lots of people tell me I’m stupid, but that’s why I’m still in this country. We know we can add value to the economy again.