The business faced significant growth opportunities but was constrained by cash flow issues. Despite having an impressive turnover, the CCJ restricted their ability to secure necessary funds. They had several ongoing care packages with local authorities and had been offered additional packages, but couldn’t commit to these new opportunities without securing invoice finance to support their operational costs.
Solution:
Apollo Business Finance stepped in to provide a comprehensive invoice factoring solution. We set them up with a £175,000 funding line, advancing 85% of the invoice value. This immediate access to funds enabled the business to manage its 21-day payment terms effectively.
Impact:
- Increased Capacity: The funding allowed the business to take on new care packages from local authorities, significantly increasing its service capacity.
- Cash Flow Stability: With the improved cash flow, the business could maintain consistent operations, paying staff and suppliers on time.
- Future Growth: The business is now well-positioned to support new customers and expand its reach, thanks to the financial stability provided by our factoring solution.
Why Choose Apollo:
- High Approval Rate: We fund businesses with CCJs and poor credit histories.
- Quick Decisions: Fast approval process, enabling businesses to seize new opportunities.
- Flexible Funding: Tailored solutions that meet the specific needs of our clients.
If your business is facing similar challenges and you need a reliable funding partner, contact us today to learn how we can help you grow and succeed.