- 31 Aug
Deal Completed - Recourse Factoring For Plant Hire Growth
Another deal just completed for a plant hire company turning over £400K per annum. We were able to find them a recourse factoring facility to support and fund their future growth.
Recourse factoring combines an intial payment against invoices as they are raised with a collection and credit control service whereby the factoring company collects in your outstanding sales invoices for you reducing the workload on your business. Every time you raise new invoices, more funding is released against those invoices and as invoices are paid, those payments repay the previous funding that you received. In this way, the level of funding grows in line with the turnover of your business.
More recourse factoring deals to follow . . .