A Winning Solution to an Urgent Need
When faced with having to provide longer credit terms and therefore seeing the cash flow gap between providing a service and getting paid increase, this can hinder even the most successful of businesses.
Having taken on a large new contract, whilst simultaneously finalising the buyout of another business, our client recognised the need to access additional funding – and quickly, in order to cover the wages for that month.
At Hilton-Baird Financial Solutions, our team of experts are determined to support our clients by finding the most appropriate facilities, and this case was no exception. After gaining valuable insight into the client’s needs, we were able to easily identify the funders who were fit for purpose.
In this case, spot factoring was identified as the most appropriate finance facility for their immediate need – particularly given the urgency required, with wages having been due in just four days.
Spot factoring releases up to 90% of the value of a single invoice within 24 hours of it being raised, and provided our client with the capital that was required to meet the salary run. From the initial call to signing with a funder, the process took just three days to complete.
Our client, pleased with the outcome, has commended the team at Hilton-Baird Financial Solutions for our understanding of their urgent need and our ability to listen to the exact needs of the business.
The director commented: “Hilton-Baird understood our imminent need and managed our expectations as to when the facility could be provided, introducing two funders within a matter of hours from engaging with us. We were impressed by their speed and professionalism.”
If you, like our client, need a fast and efficient solution to ensure your business’s plans remain on track, our expert team would be pleased to help and to hear from you on 0800 9774833, or by email at info@hiltonbaird.co.uk.
