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Recourse Factoring and Payroll

Updated: 14th February 2007 (AM)

Turnover: £750,000

A new start recruitment company supplying nursing staff and teachers to private hospitals and schools within the Greater London district, needed funding to bridge the gap between weekly payments to temporary staff and monthly sales receipts from customers. Sterling Capital Reserve was able to put them in touch with a specialist factoring/discounting company that provides funding and administrative services to the recruitment industry. They now have a healthy cash flow, and full back-office support with the payroll function, freeing up valuable management time.