Factoring - Industrial recruitment consultants, based in the East Midlands, were unhappy with their incumbent bank-owned factoring company due to funding restrictions.
There was a concentration with one of the debtors, which was set to increase further, and although it was a blue chip debtor the existing factoring company wanted to reduce their exposure.
We arranged a new factoring facility, with an independent factoring company, that provided full funding against the prime debtor. To ease the transfer, the new factor even paid half of the termination fees due to the client's former factoring company.
A new start business manufacturing children's outdoor play equipment was seeking a factoring facility to assist cashflow, and enable them to purchase raw materials for production.
They had an associated company that was already factoring, but the directors were unhappy with the service they were getting, and it was decided that the new company should seek an alternative factoring company. This is when they approached Sterling Invoice Finance for help.
We put them in touch with a factoring company that specialises in helping smaller and new start businesses, and a facility was quickly in place.
They are so pleased with the facility, that as soon as the associated company can terminate their existing factoring agreement, they too will be taking advantage of the excellent service that their associate is already enjoying.
Invoice Discounting - Two associated parcel delivery and collection companies wanted invoice discounting facilities in place in order to generate additional cashflow to meet fuel costs. They wanted facilities in place within a week so their bank referred them to Sterling Invoice Finance.
The bank's own invoice discounting division had refused a facility at the last moment due to one of the owner's previous involvement with a failed company.
We introduced an invoice discounting company with a more understanding and flexible attitude, who were prepared to look at the reasons behind the failed company. They were satisfied with their findings, and had no hesitation in offering an invoice discounting facility within the required timescale.
A promotional goods distributor was keen to get an invoice discounting facility in place to help them manage their seasonal trade funding requirements.
Making only a modest profit, they were after a competitively priced facility, which would not erode their bottom line.
We were able to assist our client in their negotiations with the discounting company, and successfully secured a favourable rate for them. They were also offered a prepayment of 100% of debtors to help them trade through their peak trading periods.
