Factoring
Updated: 14th February 2007 (AM)
Turnover: £800k
Our client, based in Buckinghamshire, sells mobile telephones and airtime to over 200 customers. When they approached Sterling Capital Reserve they already had a factoring facility in place, but were unhappy with the confusing paperwork and management information provided. Their bank recommended their in-house factoring company; however, they proved rather inflexible, and were unable to handle the type of debt and level of work involved. Faced with a vast selection of alternative factoring companies, and unsure where to turn, a business contact recommended they try Sterling. We put them in touch with a couple of factoring companies, who we knew could handle more 'difficult' types of business. They took the time to understand the client's business and were able to structure a deal accordingly.
The Result: the account runs well, and both client and Factor are happy with the facility and the relationship.
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