The business is a manufacturing company to the signage trade, producing signs for their clients via CAD, vinyl and digital print facilities. All manufacturing is completed in-house.
The business has been trading since 2014, and the sole-director has been in the industry for 26 years. They have a total of 17 employees on their payroll.
The initial purpose of the loan was to assist with a short-term cash flow issue. The issue was caused by the existing invoice finance provider being unwilling to provide finance for two invoices.
There was no warning from the invoice finance provider to the client - this issue stemmed from the invoice finance provider changing their insurance policy and the client’s invoices were no longer insured against non-payment.
The challenge was that, without prior notice of the invoices not being
Knowing the problem required a quick solution, Access Commercial Finance spoke to the client about the various services that could help rectify the situation - not only to sort the short-term cash flow issue but also to look at longer-term solutions about the suitability of their current invoice finance providers. These two solutions were managed concurrently.
The cash flow issues were quickly resolved with a £16k unsecured loan, paid out 24 hours after the initial
In order to resolve the long-term issues, we also assisted the client with an alternative invoice finance provider who would
The facility size for the new invoice finance arrangement was £50k - nearly double the previous facility size. Access Commercial Finance also negotiated on the client’s behalf with their existing invoice finance provider, who agreed to let them leave their contract early without penalty fees.
Our holistic approach, while acting quickly, has allowed the client to avoid a potentially serious issue with their finances.
Without the cash flow loan provided, the client could have missed payments to their own suppliers, with whom they have advantageous rates because of their payment history - falling behind could have affected this and cost the business more moving forward.
The new invoice finance facility, other than being a much better fit for our client, is also more cost-effective and allows them to save further funds on fees.