IT service provider secures an invoice finance facility to support cash flow
A provider of IT consultancy and training services has secured a £150,000 non-recourse factoring facility to support their cash flow and retain staff with our help.
After finding themselves unable to meet payroll when a key customer failed to pay an invoice on time, our client began to explore commercial finance options that could boost their cash flow.
We were able to introduce a number of appropriate funders in a timely manner, meaning the company was able to secure the funding they needed to meet payroll and keep hold of their staff and contractors.
A timely solution
Time was of the essence for this London-based company when an overseas customer didn’t pay an invoice on time and payroll was approaching.
The late payment meant that the business would be cutting it close when it came to making payroll, putting their staff and contractors at risk.
With an overdraft in place, they first approached their bank to discuss the possibility of increasing it – but were unable to do so.
After finding Hilton-Baird Financial Solutions and reading about our proven track of helping businesses to identify the most suitable finance facilities, our client contacted our team initially to learn more about their funding options.
After gaining further insight into their specific requirements, our team was then able to introduce different funding facilities and lenders that met these requirements and provide direct access to decision makers, meaning the company were able to secure a facility quickly.
By providing a much-needed cash flow boost, the £150,000 non-recourse factoring facility enabled the company to meet payroll comfortably – and crucially ensure they didn’t lose their staff.
If you’re struggling to pay invoices or staff on time, or your business would benefit from a stronger cash flow, call our team on 0800 9774833 or request a call back to discuss how we can assist.