Start-up temporary and permanent
staff agency - £1,000,000 turnover
Experienced sector managers starting own
agency initially wanted factoring facility.invoicediscountingcompare.com recommended and sourced combined factoring and back-office
facility. Facility simplified procedures and allowed for
secure controlled growth. Agreed factoring facility with
move to Invoice Discounting within 12 months. Costs slashed
by 50%.
Well-established manpower
agency operating in the IT sector - £7,000,000
turnover
Invoice discounting and banking with same banking institution. Bank owned factor
imposed a financing limit on the major customer. Customer blue chip status.
Agency starved of cash to such an extent cashflow became incredibly unpredictable.
invoicediscountingcompare.com sourced a confidential invoice discounting facility backed
with non-recourse protection with no funding restriction at a lower cost. Introduction
came from the company’s bankers.
Industrial machinery spare
parts - £350,000 turnover
This business was struggling to find a cost effective way to finance their
growth without giving personal collateral to their bank. Introduced via their
accountants this business produces a high number of invoices, selling to many
small customers with low credit ratings so finding the right provider was critical.
invoicediscountingcompare.com introduced an independent factor & discounter that was able to offer
a very competitive package tailored to the sector, allowing the business to
grow rapidly.
Steel stockholder - £30,000,000 turnover
A large well established independent company was providing recourse Confidential
Invoice Discounting facility. The client had grown dramatically in recent years
and so had the Invoice discounter’s fees. The Client was unhappy with
the level of fees and subsequent communication and attitude of the factor,
and was buying credit insurance separately. invoicediscountingcompare.com sourced an alternative invoice
discounter keen to do business - we arranged a package including bad debt protection,
which has simplified administration for the Client and reduced the overall
cost.
Road hauler - £400,000 turnover
Client has few debtors with fluctuating high concentration debtors from month
to month. The existing factor's facility was restrictive and unable to meet
the company's short-term cash needs. The client’s cashflow had become
very unpredictable. 1 sourced a package within 3 days that meet the clients
needs and in addition assisted to negotiate additional head room in transactional
facilities at their bank.
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