Success Stories

New invoice finance partner provides funding and flexibility

New invoice finance partner provides funding and flexibility for recruitment business

We are delighted to have helped an established recruitment company to secure a new funding facility to help them navigate the turbulent post-pandemic economic climate.

Our client has almost 20 years’ experience and a strong track record in the recruitment of qualified and skilled industry operatives for sectors including rail, telecoms, rail, aviation, logistics and warehousing.

However, they needed to move quickly when the business’s existing funding partner gave notice to terminate their facility, as they intended to withdraw from the UK finance market. This prompted their Financial Controller to contact Hilton-Baird Financial Solutions for support in identifying a suitable replacement.

Whilst the facility had worked well for the business, it presented an opportunity to review what they wanted from a provider in the long term. The timing was particularly pertinent as it coincided with an uncertain economic backdrop as a result of the global pandemic. Given the nature of the industries the business supplies personnel to, it was unsurprising that they had encountered a fall in sales due to the decline in the requirement for staff, particularly in the aviation sector.

In-depth understanding

Prior to speaking to Hilton-Baird, the business had approached eight different funders, however none had demonstrated that they could meet their requirements in terms of funding levels, flexibility and cost, and importantly the business had not felt that a working partnership would viable.

Our team took the time to understand the business’s needs to ensure an appropriate solution could be identified. They were particularly keen to ensure that the business’s needs were well met in terms of flexibility from a new funder, and the ability to access up to 90% of the sales ledger, where insured. Likewise, it was paramount that there would be enough headroom in the facility to enable the business to grow when the aviation sector recruitment returned to pre-Covid levels.

Whilst the right level of funding is crucial, having a funding partner who understands the intricacies of the business is key to long-term success. Indeed, a good working relationship with the account manager who has a suitable level of autonomy with regards to quick decisions on the facility was really important to our client.

Another key factor to consider – also given the effects of the pandemic on the sectors the business works with – was bad debt protection, and having this incorporated into the funding facility.

With this in-depth understanding of the business and its requirements, our team identified invoice finance companies that could excel in satisfying their needs, and a new funding partner and facility was subsequently chosen and secured.

With their new facility in place, our client has adequate funding and support in place to underpin its planned growth as the aviation sector returns to historic levels and beyond.

To discuss any funding requirements you may have, or to benchmark any existing facilities against the current market, contact our team on 0800 9774833 or request a call back.

Some of the funders we work with

  • Accelerated Payments
  • Investec
  • InvoCap
  • 4Syte
  • Barclays
  • Haydock Finance Ltd
  • Clear Factor
  • Roma Finance
  • Berkeley Trade Finance Ltd
  • Aldermore Invoice Finance
  • Royal Bank of Scotland
  • eCapital Commercial Finance
  • ABN AMRO Commercial Finance
  • Kriya
  • Giant
  • Pulse Cashflow Finance
  • Merchant Money
  • Nationwide Finance
  • Time Finance
  • Tradeplus24
  • Partnership Invoice Finance
  • Praetura Invoice Finance
  • Cynergy Business Finance
  • Team Factors
  • IGF Invoice Finance
  • Davenham Asset Finance
  • Regency Factors
  • Sonovate
  • Woodsford Tradebridge
  • Metro Bank SME Finance
  • Davenham Trade Finance
  • Ultimate Finance Group
  • Lloyds Bank Commercial Finance
  • Optimum Finance
  • PNC Business Credit
  • Leumi ABL
  • Blazehill Capital
  • Close Brothers Invoice Finance
  • Skipton Business Finance
  • Santander Corporate & Commercial
  • MaxCap
  • Castlebridge
  • Peak Cashflow

Authorised and regulated by the Financial Conduct Authority (FCA number 730445)
We are a credit broker and not a lender and offer credit facilities from a panel of lenders