We’ve recently welcomed a new client in the air conditioning sector that has been facing a few challenges. They’ve been in business since 2016 and have a solid turnover of £600,000 per year, but cash flow was a constant headache.
The owner had experienced some tough times in the past, including a County Court Judgement and a previous business going into liquidation. While those issues were behind them, they still made securing the right funding a challenge. On top of that, the company’s customers usually took about 45 days to pay their invoices, which kept their cash tied up when they needed it most.
To address these issues, they’d originally partnered with another lender. However, over time, the relationship with their Client Manager broke down, leaving the owner frustrated and looking for a better option. That’s when one of our new introducers reached out to see if we could step in.
We set them up with a new £100,000 invoice finance facility. Because they were switching from another lender, we managed the inter-factor transfer to make the process as smooth as possible. Once the facility was in place, they had the cash flow they needed to keep operations running and the headspace to focus on growing the business.
The director said they were relieved to finally work with a lender who took the time to understand their business. They appreciated having a Client Manage who listens and actively supports them. It’s amazing how much of a different that can make.
This deal also marked the start of a new relationship with the introducer who referred them. They’ve told us they were really pleased with how we handled the process, and we’re looking forward to working together again.
helping businesses overcome challenges like this is what we do best. For this company, having a stead cash flow means they can concentrate on delivering a great service without worrying about how they’re going to pay the bills.
