Factoring rapidly growing Accountancy Practice, helped by firstfactoruk.com

The client is a medium-sized firm of accountants and taxation planning consultants based in the North. The senior partners decided that Invoice Discounting would be the most appropriate method of raising working capital finance, as it provides the flexibility and headroom necessary to enable rapid growth.

On our recommendation, we introduced them to two potential Invoice Discounting lenders. One of these was selected to structure and deliver a £500,000 Confidential Invoice Discounting facility.

The Managing Partner commented:

“Both lenders introduced by www.firstfactoruk.com offered similar Invoice Discounting terms and pricing. However there were fundamental considerations that set one apart. As we deal with people on a daily basis its important that we ‘gel’ with those who supply our services, and get on with them personally. Both the sales director and relationship manager of one of the two companies showed they understood the Factoring and Invoice Discounting market exceptionally well, and we felt comfortable that we would work well together. The deciding factor was that the chosen Invoice Discounting company had the ability to react more quickly to changing requirements because it had shorter lines of communication, meaning decisions are made more nimbly, plus the fact we got on very well personally, all of which gives us confidence in their ability to provide a sustainable Invoice Discounting service for the foreseeable future. We need to have confidence in their ability to provide us with this continuity of service in these challenging economic times, and be supportive of our plans for the business in the future.

The new Invoice Discounting facilities were put in place in February and since then we have been very pleased with the service levels and the accessibility of information online. We have a good relationship with the Invoice Discounting providers Operations team and we can always pick up the phone and talk to them. They have also proved to be accommodating about short-term unexpected events and this flexibility has been extremely helpful.

We are delighted with the independent service offered by www.firstfactoruk.com and highly recommend them as professional, courteous and knowledgeable of the Factoring and Invoice Discounting market, and an ideal partner with which to save time when seeking a new provider of Factoring and Invoice Discounting services. “

About admin

Factoring, in one form or another, has been around for thousands of years. Factoring releases the funds locked up in outstanding sales invoices, is a sure-fire way to turn your outstanding debtors into cash. Factoring is frequently used by businesses to improve cash flow. It can also be used to decrease administration expenses.
This entry was posted in Factoring Companies, Factoring News and tagged , , . Bookmark the permalink.