- 15 Jan
Deal Completed - Switch From Overdraft To Recourse Factoring
We were recently able to help a designer of ladies clothing that was turning over £200,000 finance their working capital requirements. When we spoke to them they had an overdraft from a bank but it was insufficient to fund the growth that they planned for their business.
We were able to find the business a recourse factoring deal that would enable the level of funding to grow in line with their sales turnover. The more invoices they raise the more funding is released from the recourse factoring facility. In addition, recourse factoring will provide the ladies clothing designer with a collections and credit control service that will assist them with the collection of their unpaid sales invoices. Using a professional credit control service can also improve the speed with which debtors pay outstanding sales invoices.
If you need a quotation to finance your business please contact us free of charge, without obligation.
More alternatives to overdraft to follow . . .