Invoice factoring enables food and drink business to invest in their products

Invoice factoring

Industry: Food and drink

Product: Invoice factoring

Facility size: £400,000

This specialist food and drink manufacturer turns raw materials into allergy-friendly foods. For some time, they have used invoice finance to help them invest in the ingredients they need to create their products.

When they came to the end of their previous contract, the company decided to look for a new provider of invoice finance. They wanted to find a provider who prioritised client relationships and could be relied upon for clear communication and consistency.

Following several strategy meetings, the business secured an invoice factoring facility with Close Brothers. They agreed a £400,000 account which allows them to release funds from their unpaid invoices. They can now concentrate on day-to-day trading needs, while our expert credit management team collect payments from their clients.

From day one, the business was put in contact with an account manager, giving them a single point of contact at Close Brothers who they can speak to with any queries. From invoice collection updates to payment run information, they are confident that they are always informed about their account.