No. of employees: 3
Lender: Lloyds TSB Commercial Finance
Overview of company Established in 2007, this young recruitment agent specialists in building long standing relationships with their customers and introducing them to candidates proficient software programming on short to medium term contracts.
Why they needed invoice finance “Like most recruitment agents who place temporary staff they were experiencing cash flow issues due to paying staff weekly but invoicing customers a month in arrears. This was obviously having a big impact on their finances and without invoice finance they would really struggle or cease trading altogether” Alex Kyriacou — Invoice Finance Expert at Touch
How factoring has helped their business “We’ve now been using invoice finance for six months and it’s really helping our business grow as we can take on more staff and contracts secure in the knowledge we have enough cash flowing through the business to pay staff.” Managing Director.
Customer comments on lender “Lloyds have been pretty good so far, especially when we said to them our turnover was going to be about 50% higher than expected, they said that the cash available to us would grow in line with our turnover” Managing Director.