Factoring 3
Updated: 14th February 2007 (AM)
Turnover: £100k
Based in London, our client had been making hats and exporting them around the world for over 20 years. They had won some significant new orders, and were outsourcing work in order to meet the increased demand. They needed to generate extra cash to enable them to pay the outworkers. They had no banking facility in place, and felt that using their sales ledger to generate funding would be the most flexible way to grow the business. They already had offers on the table from a couple of factoring companies, but were seeking a better deal. This is where Sterling Capital Reserve was able to help. We arranged a facility with an independent factoring company that specialises in the needs of the smaller business, and was able to offer an excellent and personalised service at a more competitive rate.
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