Start-up temporary and permanent staff agency - £1,000,000 turnover

Experienced sector managers starting own agency initially wanted Factoring facility. firstfactoruk.com recommended and sourced combined Factoring and back-office facility. Facility simplified procedures and allowed for secure controlled growth. Agreed Factoring facility with move to Invoice Discounting within 12 months. Costs slashed by 50%.

Well-established manpower agency operating in the IT sector - £7,000,000 turnover

Invoice discounting and banking with same banking institution. Bank owned Factoring company imposed a financing limit on the major customer. Customer blue chip status. Agency starved of cash to such an extent cashflow became incredibly unpredictable. firstfactoruk.com sourced a confidential Invoice Discounting facility backed with non-recourse protection with no funding restriction at a lower cost. Introduction came from the company’s bankers.

Industrial machinery spare parts - £350,000 turnover

This business was struggling to find a cost effective way to finance their growth without giving personal collateral to their bank. Introduced via their accountants this business produces a high number of invoices, selling to many small customers with low credit ratings so finding the right provider Factoring or invoice financing company was critical. firstfactoruk.com introduced an independent factor & discounter that was able to offer a very competitive confidential Invoice Discounting package tailored to the sector, allowing the business to grow.

Steel stockholder - £30,000,000 turnover

A large well established independent company was providing recourse confidential Invoice Discounting facility. The client had grown dramatically in recent years and so had the Invoice discounter’s fees. The Client was unhappy with the level of fees and subsequent communication and attitude of the factor, and was buying credit insurance separately. firstfactoruk.com sourced an alternative invoice discounter keen to do business - we arranged a confidential Invoice Discounting package including bad debt protection, which has simplified administration for the Client and reduced the overall cost.

Road hauler - £400,000 turnover

Client has few debtors with fluctuating high concentration debtors from month to month. The existing factor's Factoring facility was restrictive and unable to meet the company's short-term cash needs. The client’s cashflow had become very unpredictable. firstfactoruk.com sourced a Factoring package within 3 days that met the clients needs and in addition assisted to negotiate additional head room in transactional facilities at their bank.