Speaking from experience
Cashflow UK are experts in helping businesses find the right finance facilities to match their individual needs. But don’t just take our word for it…
Keeping cool about Cashflow – Freedom AC Ltd
Paul Taylor is the director of Freedom AC Ltd, an air conditioning wholesaler based in Eastleigh, near Southampton who last year was presented with an opportunity to expand his business by purchasing the assets from a Belgian parent company.
Commenting on the buy-out, Paul says, “It was ambitious to purchase these assets when at the time there was little improvement in the economy, but I was keen to grow the business and decided it was worth taking the risk”.
In order to make this expansion a success, Paul needed to unlock the cash flow in his business to enable him to meet the anticipated increase in orders and ultimately grow the business. Knowing that he needed an immediate and on-going cash injection, he was confident that invoice finance was the right funding option for the business. Having limited knowledge of the market, Paul approached Cashflow UK for support and advice in finding the right invoice finance deal and provider to match the needs of his business.
“Cashflow UK introduced a funder that we would never have thought about dealing with and put me in touch with a proactive member of staff. Cashflow UK pulled out all the stops to work to my timescales and I was impressed that within two weeks the invoice discounting facility was up and running. We are a time critical business and I like the fact that we have access to cash the day after we have raised an invoice. It is an instant result!”
Paul continues, “Giving our administration staff a clear understanding of the benefits of Invoice Discounting has proved to be invaluable. Prompt administration and debt collection has become a by-product of good financial planning”.
With bad debts kept to a minimum, a strong relationship with his debtors and an invoice discounting facility that has improved his cash flow management, Paul is looking to double his turnover within the next two years.
“A solution based service that we have used time and again and have no problem recommending”
After a great deal of initial research by us regarding invoice finance, our experience was frustration and perturbation. Had we known what we know now, Cashflow UK would have been involved at the outset.
Cashflow UK negated the need for time consuming meetings and identified funders with the appetite for our clients’ business on a pre-accepted structure.
David Guest – Partner at UHY Hacker Young
“A service not to be underestimated”
We were being hampered by an existing invoice finance facility provided by our bank’s subsidiary. Initially, it all ran well, but when seeking additional support in terms of trade finance the wheels came off.
We now have a facility which works and provides us with the necessary finance to secure manufacturing. However, it has not been without pain! Had Cashflow UK not remained by our side and arbitrated with the funder we would be far less successful than we are today.
Adam Sells – MD
Importer Distributor
“Knowledge is king”
My client was seeking additional cash flow options due principally to protracted payments by some large customers. Considering Invoice Finance as an option, we were encouraged at the interest shown by a number of funders and as a result meetings were diarised.
Through a colleague I spoke to Cashflow UK who expressed concern about who we had meetings booked with. Their concerns were well founded as the initial interest first shown amounted to nothing. The need now being very time critical, they quickly identified a funder and an offer of facilities followed.
Had we been talking with Cashflow UK from the outset, we would not have had the roller coaster ride and we would have been where we are today a lot sooner!
Chris Ketley – Partner at Knill James
“Rescued from a desperate situation”
Having been presented with an opportunity to purchase a competitive business, we needed to identify a method of financing this transaction.
We initially approached our bank who appeared enthusiastic to provide a package but after a very lengthy period declined. This placed the purchase in jeopardy.
Through our accountant we were introduced to Cashflow UK, a name we had heard of but had no direct experience of.
It became very clear early on that Cashflow UK knew their market and, furthermore, had direct contact with the decision makers. We provided the data required and meetings were arranged with senior underwriters.
Had we not been introduced to Cashflow UK, without doubt, the deal would not have happened. The fact that the funder proved very flexible throughout the process, and still is, is testament to the continued involvement of Cashflow UK.
David Deering – MD
Freight Forwarder
“Always in our best interests over any other”
I have used Cashflow UK for my factoring needs for over 15 years. The key point that keeps me coming back time after time for new ventures or re-financing is the underlying feeling that they are on my side. They understand the pressure of being in business and the daily difficulties that a growing company faces.
Cashflow UK always point out the pros and cons of any offer from any finance company. The decisions always feel like my own and I have never felt like their interests were ahead of mine.
Craig Treharne – MD
Distributor of bathroom accessories
“An invaluable service to any professional and their clients”
Our first encounter with Cashflow UK was by association! A client had made enquiries with regards to invoice finance 10 years previously. Their experience led them to speak again. Cashflow UK investigated the market and sourced a facility. They provided sound impartial advice and at all times putting our client’s needs first.
Mark Levey – Partner at BKL (Top 50 Accountant in UK)
Security Services company
This business had been trading for eight months and had gained a number of new contracts. They were forecasting a turnover of £350k over the next 12 months, but because they paid their staff weekly, cashflow was under pressure.
They contacted Cashflow UK who introduced them to two potential funders the same day. One of these funders visited the same afternoon and terms were agreed there and then. The prospect received his first payment two days later – 48 hours after meeting with the funder!
Haulage Business
This business approached their bank for a factoring facility but, due to the owner’s poor credit history, they were unable to help so referred the business to Cashflow UK.
Cashflow UK discovered a previous bad debt was putting pressure on their cashflow and, with the added complication of 70% of their business being with one debtor who was taking up to 60 days to pay, options were becoming limited. We managed to source a factoring facility with no concentration restriction, giving the business access to 75% of its outstanding invoices. Five months into the facility both the client and funder are happy with how the funding agreement is working.
Dried Food Wholesaler
A growing business turning over £14m was finding the bank overdraft of £175k restrictive. They had opportunities to purchase stock at a competitive price but needed the cash to do so. The business was well run with experienced people and Cashflow UK were able to put in place a Confidential Invoice Discounting facility with a funding line of £750k. The facility has been running well and the client is continuing to grow.
