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Industry: Plant hire and temporary recruitment

Product: Invoice factoring with bad debt protection

Facility size: £100k

Based in the South of England, this well-established sole trader hires plant machinery and temporary operators. Having traded as a sole operator for around 10 years, the owner was seeking funding to support expansion and make the transition to a ‘limited’ company.

Close Brothers Invoice Finance met with the business and advised that an invoice factoring facility would meet requirements. Assessing the value of client invoices as soon as they were raised would relieve pressure on cash flow and provide the working capital needed to realise growth ambitions.

The credit control support that debt factoring provides is also hugely beneficial for an SME of this size. Our discreet and friendly team liaise with clients and collect payment on the business’s behalf, giving them more time to focus on day-to-day trading.

In addition, the sole trader chose to add bad debt protection to their facility. This means should a customer insolvency arise, we will liaise with the designated insolvency practitioner on the SME’s behalf, as well as highlighting any potential risks from new and existing customers to minimise exposure to bad debts.

Contact us

Close Brothers Invoice Finance
Ridgeland House
165 Dyke Road, Hove
East Sussex, BN3 1UY

T: 0127 305 9530 *

*Freephone from landlines

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