Move My Factor

As you already use factoring or invoice discounting you’ll appreciate the cash flow worries it removes. However, you’ll have also found out that no two factoring providers are the same and how quite often you get what you pay for in terms of service.

If this sounds familiar, then you could consider transferring your facility to another provider.

Read this case study to find out how we helped another business like yours that moved to us from another factor.

Deal Type: Inter-factor Transfer Industry: Printing right of box
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Deal type: Inter-factor Transfer.

Business sector: Greeting Card Finishers.
Turnover: £800K.

This Leeds based company is a well established family run business that specialises in applying the finishing touches to greeting cards. Cards come into the business on large sheets and are then cut, folded, foiled, finished, packed and boxed for delivery back to or collection by the card manufacturer. The business and industry is subject to seasonal swings, for example, the summer months are busy with preparing Christmas cards. The business also undertakes some contract packaging work from time to time.

The directors’ son had a young greeting card manufacturing company that operated from within his father’s premises with a small amount of finishing work undertaken from time to time by his father’s business. The relationship with their bank factor started to break-down when they refused to provide funding against the business run by the directors’ son plus they were also sticking very rigidly to credit limits, which restricted cash availability. This coupled with the seasonality swings led the company to search for an alternative source of funding in order to improve cash flow.

Our Solution

We are one of the largest independent invoice finance brokers in the UK, and the solutions we come up with don’t have the restrictions associated with other types of financial organisations. That is why we were able to source a flexible facility, which generated more cash against the whole sales ledger that the business needed to continue to grow successfully.

We hand selected a lender with a  local knowledge and presence that meant that it had a full understanding of the industry in which the business was operating plus as a family business, the directors had the peace of mind that they could quickly meet with an experienced and dedicated manager, which was lacking with their previous factor.

The Future

With cash flow being managed the company is trading profitably with turnover growing. Without financial restrictions, the business can confidently concentrate on business growth.