- 16 Apr
Deal Completed - Factoring For A Training Company Helps With Credit Control
In this case study, we were able to assist a London based training company who were using overdraft rather than invoice finance. They needed working capital, some of which was being provided by an overdraft, but they also had issues handling their own invoice collections. Therefore, they also needed credit control support as well.
We found them a recourse factoring facility that will provide both the working capital funding and a credit control support function to help collect in their overdue debts. The other benefit of their new recourse factoring facility over their old bank overdraft is that the recourse factoring funding will grow as their business grows. The fnance is linked directly to the amount of invoicing they raise and hence it is linked directly to their sales turnover. This means that you don't need to keep returning to your bank manager to renegotiate your overdraft every time your turnover grows. Put simply, more invoices means more funding.