Customers

“As our workload had trebled in a short amount of time, we knew invoice factoring would solve our cash flow worries, because we’ve used it before. We can be putting up to 50 people on-site in a week, all of whom need paying on time, even if the customer settles their bill late. Invoice factoring lets us do this” Managing Director

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“With turnover increasing by over 50% per year we need capital to invest in the growth of our business. We also pay for all our imported stock up front. This means that we need the money from factoring to keep the operation running and to keep us on track to hit our ambitious targets.” Director

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“Originally we were using the invoice finance provided by our bank. But it was proving to be expensive and we were locked into a long-term arrangement which required us to give three months’ notice. Because of the way our business works we needed some sort of invoice finance arrangement…….”

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“We needed funding to get the business off the ground. Our clients are mainly in the engineering sector, automotive and aircraft part suppliers. Using the factoring service from Lloyds means we get 80% of our invoice paid almost as soon as we raise it.

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“Our customers insist on 45 day payment terms, which in reality means it can be up to 75 days before we get paid. We need cash to pay our staff and buy the materials needed to complete projects. As a new business our working capital was limited so it was essential that we…..”

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