- 02 Jul
Industry Sectors We Are Supporting At Present
Variety is the spice of life, and it never ceases to surprise me the range of different industry sectors that we get involved with supporting through invoice finance.
If we can help you find the funding you need please call Sean on 03330 113622.
Industry Sectors And Invoice Finance
At present our pipeline of deals nearing completion is pretty good, with a number of new clients in the works. As always these are drawn from across a diverse range of different industry sectors.
Currently the deals that nearing completion include the following sectors:
- Recruitment and temporary staff hire - within which we have several prospects.
- Security services - again several prospects.
- Construction sector - again several across project management and engineering consultancy companies.
- Courier services.
- Training and consumables.
- Medical services.
- Car crash body repairs.
Specialist Construction Funding
Some of these are very specialist sectors e.g. construction and building. Not all providers get involved with that sector so it is harder to find funders. However, there are still a number of options on the market.
Car Body Repairs
The other specialist sector is car crash body repairs. They are again funded by specialist lenders that operate in a different way to the norm within invoice funding. They purchase the invoice outright, at 100% of its value, less their fee for providing the service (normally 2% to 3% of the invoice value). They also tend not to seek debentures, or full personal guarantees. We have had prospects that have converted within a few hours within that niche, as the process is so simple. We have also seen strong turnover growth from some of these garages and body shops.
Recruiters And Temporary Staff Hire
Recruitment remains the most popular niche that we come across. I have reported before about the high concentration of receivables financing users within the staff hire sector, and that remains evident in the type of business that we are seeing. Signed timesheets for temporary staff is always a solid basis for funding, and recruiters tend to be cash hungry as they need to pay their staff.