Stock Finance and Factoring
Updated: 14th February 2007 (AM)
Turnover: £400,000
Established for just 12 months, our client had quickly built the business up to achieve turnover of £400k during the first year. They had no bank facilities, but wanted a working capital facility in place that would grow in line with sales. Factoring was the obvious choice.
We arranged a factoring facility with an independent factoring company, and were also able to put a small stock finance facility in place. The stock finance facility is particularly helpful, since the goods are imported, and our client typically has to pay suppliers up front, with delivery some 4 weeks later. Our client can now concentrate on growing the business without the headache of chasing debts or worrying about cash shortfalls.
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