Factoring facility provides metal work company much-needed support during Covid-19 disruption
Hilton-Baird Financial Solutions has helped a company specialising in component metalwork to swiftly secure a new invoice factoring facility to provide the support they needed during this pandemic.
Although the business had a funding facility in place, after losing a key client they decided it was an opportune time to explore their funding options to find a solution that better suited them.
Having had previous contact with Hilton-Baird they knew where to find us and, with our help, the new facility was up and running within the right timescales for our client, in line with their notice period with their prior funder.
At a time when many businesses are feeling the strain, our client’s new factoring facility has served them well and continues to release more funding to the business, enabling them to continue providing their services and to think about building on those services in the future.
A timely solution
When the company’s overall sales ledger profile changed due to the loss of a key client, they found that the funding facility they had in place was no longer well suited or providing the required level of support.
Having previously had contact with Hilton-Baird roughly a year earlier, they were aware of the insight and support we could provide as a broker in terms of identifying suitable funding facilities. So they took the step to get in touch with us and explore whether there was a more suitable finance facility available to them.
Given the situation that many businesses have found themselves in as a result of the Covid-19 pandemic, it was essential that this funding would be delivered efficiently and mindful of their needs, to ensure the facility would not only cover their immediate requirement but continue to support them with their future plans.
Hilton-Baird introduced invoice finance companies that were a good fit for the business and were able to provide a solution in the right timescales for our client’s need, helping the business cover their day-to-day running costs and supporting them on the road to returning to business as usual.
If you are looking for funding to support one or multiple needs, our team is happy to help. Give us a call on 0800 9774833 or request a call back.