- 09 Dec
Funding For Accountants With Poor Sales Ledger Ageing
We have just been able to help a company of accountants find a factoring facility after their existing provider sought to terminate their facility due to the ageing of their sales ledger. So if your factoring company want to terminate your facility, don't panic and get in touch to see how we can help you.
Factoring For Accountants
Accountants are often paid late, it is an issue that seems to dog the sector. This particular accountancy was being funded by one of the larger factoring companies and they had reached the point where the existing provider gave notice of termination.
Sales ledger ageing issues are a problem for factoring companies, as they rely on the sales invoices being paid, in order to repay the prepayments that they provide. Therefore invoices remaining unpaid beyond their due date is a problem that can lead to funding being withdrawn.
Even if there are no risk related problems on your account, factoring companies have been known to change their criteria and terminate clients as they no longer fit their criteria for risk. We have been able to help clients in this situation as well.
Sympathetic Factoring Company
In this case, we were able to introduce these accountants to an alternative, more sympathetic, independent factoring company, who were prepared to work with our client in order to improve the ageing of their sale ledger. As we always say, the approach to risk taken by different providers is not uniform - this allows us to find alternative factors even in cases where a client has been given notice of termination by their existing factor.
Whilst one funder may refuse to finance a certain client (or debtor) another may take them on. Our expertise is in finding providers that can help, and we have a great track record of finding invoice finance for our customers. Over the last year, we have been able to find finance for almost 98% of the clients that we have dealt with.
- 24 Feb
Factoring With An HMRC Time To Pay (TTP) Arrangement
This is an example of a UK SME company that we were recently able to help find the funding to support their projected growth. In this case, the company was a small driver recruitment company within the temporary recruitment sector, and they were looking to grow their turnover substantially to a single customer.Use of invoice funding within the temporary labour sector is very common, and it is...
- 21 Feb
Do You Want An Improved Factoring Deal?
In many cases, when a company is using invoice finance are not completely satisfied with the service that they are receiving, they stay put in order to avoid any hassle associated with moving. However, there may be significant benefits to moving.Read our Guide To Moving Factors.This recent case study was a fantastic example of the numerous benefits that you can enjoy if you decide to search the...
- 03 Feb
Invoice Finance Based In Southern Ireland (Eire - Republic Of Ireland)
We dealt with an interesting case recently where the location of the prospect was a key issue.We were asked to assist a staff recruitment company that provided temporary contractors to various parts of mainland Europe.The key issue with this particular prospect was that they were due to move their offices to Southern Ireland (also sometimes called Eire or the Republic of Ireland) - so they...
- 15 Jul
Replace Your Cancelled Invoice Finance Facility
We have just been able to help a small steel fabrication business that were are using a selective invoice finance company, that wanted to cancel their invoice financing facility.The business deals with a number of construction sector customers, and hence a lot of their sales are billed via applications for payment, rather than invoices. The use of applications for payment, which is commonplace in...
- 30 Apr
30K Business Loan For A Vending Machine Supplier.
Vending machines is one of the diverse sectors that we have been able to assist recently. We recently helped a supplier of vending machines arrange a long term business loan. The loan was for £30,000 over a long term, which will provide a significant capital injection for their company.MORE INFORMATION ON BUSINESS LOANSWhilst this was a relatively modest loan, we are able to help arrange much...
- 17 Apr
Diverse Trades That We Have Found Funding
Whilst looking through recent deals that we have completed to find a few for case studies that I can add to our website, it struck me what a diverse range of different trades, and industry sectors, we have arranged funding for recently.The variety of types of business finance that we can arrange for companies, means that there are options whatever your industry sector.These are just a few...
- 29 Mar
Overcoming Constant Changes Of Client Manager
Service problems are rare in the invoice finance sector, but when they do arise, we have had some success helping clients solve service problems.REQUEST A CALL IN CONFIDENCEWe have just assisted a client who was using a bank owned invoice finance company, but they had suffered continual staff changes. After having the same Client Manager, the individual - often called a Relationship Manager - for...
- 04 Mar
Savings On Factoring For A Recruitment Company
Interesting recent case where a potential cost saving has been identified for a medium sized recruitment company, currently using non recourse factoring.The prospect was using a non recourse factoring service (which can have its benefits), from a large provider, but they were seeking a cost reduction exercise, and they wanted a better service. They felt that the provider was no longer keen on...
- 15 Oct
Credit Control For A Small Construction Estimating Business
We have just completed a credit control only facility for an estimating business that handles:DISCUSS A CREDIT CONTROL QUOTEThis firm of estimators were originally with a large high street bank, who have an invoice finance arm, but as the bank have withdrawn their debtor protection this client needed to look for a new provider. The facility that they had received from the bank was factoring but...
- 31 Jul
Invoice Discounting For An Electric Bicycle Distributor
Electric bicycles, or e-bikes, are a fast growing market, as many people seeking to live a greener life and replace their journey to work in a petrol or diesel powered car, with something less polluting.We were recently able to arrange a confidential invoice discounting facility for a UK based distributor of electric bicycles, in order to support their future growth.GET A QUOTE FOR INVOICE...
- 26 Jul
Selective Invoice Finance For Installation Of Car Charging Points
This case study concerns a client in a very different industry sector that we were able to find a selective invoice finance facility.GET A FUNDING QUOTEThe small business was an installer involved with the installation of car charging points for electric cars. They also undertook some solar panel installation, under the Government's green deal scheme.Car charging points, for electric cars, are...