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Recruitment and Training Industry Finance
Recruitment and Training Industry Finance
Recruitment and Training Industry Finance
For many years recruitment and training companies have been using invoice finance to bridge the gap between paying staff and receiving payments from their customers. For many recruitment companies having to pay staff weekly but receive their money after 30 to 60 days can bring a difficult cash flow problem. Not with invoice finance! this solution is perfect for companies looking to get their hands of the funds faster.
Imagine, sending your invoice to your client and receiving up to 90% of the money within 24 hours without having to wait. This is exactly how invoice finance works! A lender can bespoke their service to suit your needs. This brings loads of benefits, saving time on admin and credit collection, advancing you funds immediately whilst growing turnover.
There are two types of Invoice finance to choose from: Invoice factoring and invoice discounting!
Invoice discounting –allows you to stay in control of your credit control, if you have a credit control team in place you can continue to use that service, this is targeted against larger companies typically turning over £500,000 + Vat or more per year.
Invoice factoring – if your business turnover is more than £100,000 +VAT per year the lender will take charge of receiving and chasing payments on your behalf. Saving you time and stress.
Want to know more? contact Grow Funding today? our friendly team is waiting to help you.
Other financial solutions that could be considered are our unsecured and secured business loans.
Asset finance is a type of lending that enables you to access business assets such as equipment, machinery and vehicles without having to buy them upfront. It can also allow you to release cash from the value in assets you already own or use your existing assets as security against a business loan from an asset finance lender.
Business asset finance is typically attractive to businesses who want to put their growth plans into action but don’t necessarily have the ready cash, or business owners who would rather spread large costs over a longer period.
Short-term asset finance also enables businesses to remain competitive by making it easier for them to access the latest technology. Asset finance is a broad category that relates to valuable items in your business.
Here is one of our case studies of asset-based invoice finance –
Case Study - Feb - 2019
Invoice factoring for Essex based building company
This company had been awarded a large value contract with a London borough council to install new kitchens and bathrooms into their residential council properties. With limited funds in the bank to cover the cost of labour and materials, Grow Funding arranged a suitable Invoice factoring facility to allow the business to release cash tied up in their outstanding invoices. This means going forward at the point of them giving the invoice to the council they can factor the invoice to provide them with cash in the bank to cover their cash flow needs. An initial facility size of £165,000 was set up with view to this growing over time.
The Advantages:
• Credit insurance to protect you against bad debtors
• The funds are secured and valued against your assets
• Funds can be used for any business needs
• There is the possibility of being flexible in comparison to loans and overdrafts
Grow Funding ltd - 70 Goring Road - Goring by sea- Worthing - West Sussex - BN12 4AB
01903 660091
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