• Find Funding For A Car Repairer Working For Insurance Companies.

    Find funding for car crash repairs billed to insurance companies.Insurance company invoices for car repairs are able to funded at 100% of their face value (less a fee to use the service). I have reported previously about what a simple version of receivables financing crash repairs can be. We have been able to assist numerous car repair companies within the sector, and we have just assisted another customer.

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    Finding Funding For Car Repairs Billed To Insurance Companies

    This particular customer was turning over £400K per annum, and wanted quick turnaround funding against some invoices for crash repairs, that were billed to insurance companies. This is because when you have an accident and your insurer approves your claim, they will be the party that pays the garage for your repairs to be completed.

    However, the insurer can take time to pay the invoice, so body shops often want to get access to that unpaid cash immediately in the form of a prepayment against their credit invoices.

    Quick Funding

    We helped arranged a facility for them that will release funding against such invoices, as they are raised. Our record for arranging car crash repair funding is just 7 hours, so it can be put in place very quickly.

    The other benefit, is that customers have no lock in to ever use the facility again. They can decide if they want to get funding against each transaction. Therefore, the only thing that keeps them coming back is the fact that they benefit from the finance, there are no minimums, or restrictive contracts to stop them from leaving the factoring company.

    Another example of how we can help car crash repair body shops access working capital.


    Further Related Information

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woodsford tradebridge
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