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Engineering: South Wales

Industry: Engineering

Turnover: £800k

No. of employees: 15

Region: South Wales

Lender: Lloyds

Overview of the company:

This three year old business provides mechanical engineering support in both commercial and domestic environments. Most of its customers are large contractors who engage the firm to work in particular properties.

Why they needed invoice finance: A major customer began extending their payment times to between 60 and 90 days. This created a cash flow problem, as most of the firm\’s staff are paid on a weekly basis. The company decided to seek an invoice factoring deal which allowed them to factor just that problem client\’s invoices.

How invoice finance helped their business: Invoice factoring has made a very big difference to our cash flow. We are able to keep paying our staff on time, while we wait for our customer to settle their bills. We can honestly say that factoring is working well for us. Managing Director

Customer comment on Touch and the lender: When I started looking for invoice factoring, I did not believe it would be easy to find for a business like ours, with strong links to the construction sector. But Touch Financial proved me wrong by quickly putting forward two different lenders, out of which I chose the one that was right for us. I recommend them to anyone else looking for help in arranging invoice factoring. Managing Director

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