- 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.
Replacing Cancelled Invoice Finance
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 the majority of construction sector businesses, means that there are only a limited number of funders that will be able to help construction sector companies.
Construction Sector Applications For Payment
Most traditional invoice finance companies will only deal with transactions billed via sales invoices, and most stay clear of the construction sector due to the additional risks associated with staged payments and offsets associated with ongoing project work.
Poor Financials But Looking To Grow
This particular business had been using a selective invoice finance facility from a well-known provider, but a downturn in their trading performance had meant that their latest set of financials showed a small trading loss, and a reduction in their tangible net worth to almost nothing.
Whilst many invoice finance companies will be prepared to overlook poor financials as they rely upon the book debts for their security, in this case this particular funder wanted to cancel their clients facility, and so their client agreed to seek an alternative replacement invoice finance arrangement.
We were happy to assist and introduced them to one of our panel of selective invoice finance companies, who were prepared to fund both their sales invoices and applications for payment to the construction sector. Furthermore, the funder that we introduced were prepared to take a view on their historic trading financial accounts, as the company was expecting to grow, and hence needed the benefit of funding against their sales invoices to facilitate that growth.
Different Invoice Finance Companies Take Different Risk Stances
This is another case study example that demonstrates how different invoice finance companies will take a different risk stance with regard to funding a particular business. Anyone that uses invoice finance, that is facing having their facility cancelled by their existing invoice finance company, should contact us as there is every likelihood that an alternative funder will be prepared to provide a replacement facility. It is very common for different funders to take different stances regarding the risk associated with a particular prospect - just because one company wants to cancel your invoice finance it does not mean that others will not want to provide replacement funding.
- 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...