Growth against all odds
The concern a funder won’t fully understand the industry in which the company trades often proves to be a psychological barrier that obstructs an entrepreneur’s search for that essential funding solution.
Additionally, as the current climate affects these lenders, only a few are prepared to think outside the box with regards to funding businesses that don’t fit into the traditional criteria.
However, following complications with its bank, the director of an advertising company had to face these fears and seek the funding that was essential to his company’s growth.
The problem the business had previously was that the work they provided is very much work-in-progress; where they are paid for the design one month, the artwork is paid for the next and the work is completed in stages, which not all funders could understand.
Hilton-Baird’s knowledge of the invoice finance market identified factoring solutions from two different lenders that would satisfy this demand. After much deliberation the business secured the facility with the funder whose knowledge of the industry was first class.
To explore the funding options available to you business contact our team on 0800 9774833 or info@hiltonbaird.co.uk. Alternatively, request a call back and one of our funding consultants will call you.
