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Case Study: Recruitment Company North West
Invoice financing proves especially useful in the right circumstances, for example, recruitment companies. We recently assisted a recruitment company specialising in temporary recruits for the IT industry. They were experiencing issues with cash flow, as they had to pay their temps every week, whilst being paid themselves on 45-day payment terms. This caused an ever increasing cash flow problem.
The client has had to turn down a number of large contracts historically due to their ongoing cash flow issues. The client realised when they landed a large preferred supply contract for 50 staff for a blue chip company, that invoice discounting was the obvious solution.
After Compare Factoring assisted in finding a very competitive Confidential Invoice Discounting (“CID”) facility, the company has gone from strength to strength. The company can accept new contracts without worrying about how to fund them and as a result has grown steadily over the last 2 years.
“Compare Factoring were great with us, they put us in touch with a lender who specialised in our industry. They gave us very good rates and even better funding lines. Without the discounting, we wouldn’t be in such a strong position”- Financial Director
"Target Business Assist have provided our business with a new invoice factoring system that has dramatically improved our cash-flow position and flexibility with our clients..."
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