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• 05 Aug

  Factoring For A Small Pest Control Company

  

  FundInvoice have been able to assist another small business in finding recourse factoring to provide working capital for their growing company that wanted to offer more customers credit terms.

  It is a common problem that as a business grows, it needs to offer credit terms in order to be competitive. Credit accounts are where customers are given a number of days to pay their invoices for services rendered e.g. 30 days. This delay in receiving payment can lead to cash flow problems, which is where invoice funding services come in. They bridge the gap between raising the invoice and getting the payment from the customer.

  They also gave us this great 5 star testomonial review.

  Factoring For Pest Control Services

  The business in question was a small pest control services company that were looking to raise some additional working capital. This particular client specialises in bird control services such as the provision of netting, spiking and wire solutions.

  The full range of other pest control services would be ideal for funding via factoring, providing invoices are raised to other businesses on credit terms. These services are particularly suitable where the work has been signed off by the customer, creating a strong audit trail for the debt.

  The full range of pest control services that could be eligible for finance via factoring could include:

  • Pest control treatments, trapping, pest removal and aftercare services.
  • Control of insects, rodents, birds, snakes, spiders and other pests e.g. woodworm.
  • Providing services to businesses in respect of office premises, retail shops, industrial premises, healthcare premises, food and hospitality businesses such as pubs, restaurants and cafes.

  Small Business Funding

  The other aspect of this case that is particularly interesting is that it is a small business that would not have fallen within the size criteria of many UK factoring companies. However, we were able to find them a small independent factor that were happy to support other small companies that need funding to grow. One of the benefits of dealing with a smaller factoring company is that they often provide an excellent credit control service, as part of the factoring package. This can mean that you don't have to undertake any debt chasing yourself, and it avoids needing to employ a credit control.

  By Glenn Blackman