Industry: Construction Contractors
No. of employees: 3
Overview of the Company: The Managing Director founded his business eight years ago, after years of frustration working for others in managing the supply of specialist labour for road maintenance projects. The business has grown consistently over that time.
Why they needed invoice finance: The company is in the process of resolving a tax dispute with HMRC, which has resulted in thousands of pounds of working capital being unavailable for day-to-day use. When business picked up significantly in early 2012, the firm had to source alternative finance in order to accept the new contracts.
How invoice finance helped their business: As our workload had trebled in a short amount of time, we knew a manufacturing invoice factoring facility 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.
Customer comment on Touch and the lender: We wanted a flexible invoice factoring solution and that\’s what Touch found for us. Our one-month rolling contract with Lloyds is ideal. Touch sorted out everything from just one phone call and I’d recommend them to anyone else looking for help in arranging invoice factoring. Managing Director.