- 07 Sep
Deal Completed - Recourse Factoring With Poor Credit Rating
We were recently able to assist a London based clothing manufacturer, who was turning over £250,000 per annum, find a recourse factoring deal to support their growth plans.
The prime mover of the clothing manufacturing business had a poor credit rating and so had not been able to find a finance facility elsewhere. Credit ratings are often important when applying for overdrafts and loans but with factoring, the emphasis is on the quality of the invoices and debtors as the debts are the assets that the factoring company is funding against. Hence we were able to assist this clothing manufacturing businesses.
More recourse factoring deals to follow . . .