Cash flow can be a big challenge for businesses that need to pay their staff weekly but wait 30 days or more for customer payments. A local company in the plant hire and construction industry came to us with this exact problem. They needed cash to cover payroll but were stuck waiting for payments from their customers.
To make things harder, the business had a County Court Judgment (CCJ) and a previous Individual Voluntary Arrangement (IVA). Many lenders wouldn’t work with them, but we saw their potential and wanted to help.
The company’s cash flow couldn’t keep up with the demands of weekly payroll. They needed a way to bridge the gap between invoicing customers and getting paid. We stepped in and gave the business a £200,000 invoice finance facility, funding nine of their key customers. This gave them same-day payment on all their invoices and fast access to the money they’d already earned.
To reduce their worries about non-payment, we also added bad debtor protection. This meant they were covered if a customer didn’t pay. Now, the company can pay their staff on time and focus on running their business. With reliable cash flow, they can manage their operations without constant financial stress.
At Apollo, we look beyond financial history. Whether your business has CCJs, IVAs, or other challenges, we’re here to listen and offer solutions. If late payments or unpaid invoices are causing you problems, contact us to see how we can help.
