Specialist factoring and invoice discounting brokers - Cashflow UK
Supplier of steel products, and on-site labour to blue chip companies. With sales expected to treble over the coming year and the bank refusing an overdraft, the director had turned to a factoring provider for a solution 2 weeks earlier.
By the time Cashflow UK were introduced, the business was still awaiting an offer and needed to pay staff within 2 days. We arranged for a director of a local factoringcompany to visit the following morning. Recognising the urgency, he completed the paperwork during the first meeting and released cash to pay the staff the following morning. In total, it took 23 hours from our introduction to our client receiving the money.
A well-established business dealing in branded cellular phone accessories. They traded globally using common suppliers and customers, taking advantage of bulk product opportunities on cash on delivery terms. These transactions were largely funded using a trade finance facility but, they needed a finance facility to enable them to offer credit terms to independent UK retailers with sales forecasted to reach £1.8 million.
The business now has a factoring facility to enable it to offer credit terms and meet its challenging sales forecasts.
A business projecting £3m sales, providing house maintenance to County Councils and Housing Associations, was initially declined by their bank’s factor because they held a CIS certificate. Additionally there was a large percentage outstanding with one customer, which many factors are not keen on funding, even though this was a County Council.
Factoring was made available to the client, dramatically improving their cash flow and replaced a small overdraft facility which was repaid from the first factoring money.