Spot factoring facilitates new contract
Window fitting and restoration specialists Anerley Windows Limited (which trades as Paxton Restoration since 2014) has secured funding to support a new contract.
The business, which excels in the restoration of heritage sites, such as those owned by the National Trust and English Heritage, recently obtained a contract to restore windows at Queen Mary University in London.
To be able to complete the work in the proposed timescales, Anerley Windows required several contractors to be on site, and these contractors needed to be paid before the business itself received payment for the work, creating a cash flow gap.
Managing Director Richard Sullivan approached Hilton-Baird Financial Solutions’ team to secure a suitable cash flow solution. Having worked with Hilton-Baird in the past to secure funding, Mr Sullivan was confident our team would enable him to access the most suitable options and progress with the best provider and solution for his current need.
Hilton-Baird identified suitable providers to fit with the business’s requirement and Anerley Windows opted to progress with their chosen provider based upon the ease of use, a straightforward proposition and the service levels offered.
Their new spot factoring facility has enabled them to secure funding against the first invoice and enables the flexibility for the client to opt to use the facility as and when they wish to.
Mr Sullivan commented: “In my experience, the team at Hilton-Baird is very professional – yet warm and friendly, as is necessary with a consultative relationship.
“Clearly experienced in funding matters, we appreciate that Hilton-Baird actively look to understand the wants and needs of businesses so that they can deliver the best tailored solutions – they certainly met our spec in terms of what we were looking for and we are pleased with the outcome.”