- 14 Nov
Deal Completed - Factoring For Recruitment Company Growth
I publish details of a selection of the #factoring deals that we complete through our invoice finance brokerage and a recent example was this recruitment company with a turnover of £1,700,000 per annum who were looking for factoring in order to fund the growth of their recruitment business.
The recruitment sector are classic users of factoring as they need to pay their staff before they get paid by their customers. Factoring bridges the gap by providing funding (initial payments or early payments) against their sale invoices as they are raised, releasing the cash that would otherwise be tied up.
In the case of this particular recruitment company, we were able to find them a non recourse factoring facility that will fund their growth and protect the business against bad debts.