Switching financiers for higher funding levels

Industry: Recruitment and managed services

Product: Invoice discounting

Facility size: £8 million

The group specialises in the supply of labour, site management, construction logistics and subcontract packages to the construction industry. They had invested time in developing the business model to win increasing numbers of high value contracts. The invoice finance arrangement already in place was no longer sustainable to continue to apply for temporary increases in funding limits to keep up with the rapid growth of the organisation.

An introduction was made to Close Brothers Invoice Finance by their broker and the owners opted for a confidential invoice discounting arrangement that would provide appropriate levels of finance for the group, in addition to a level of service that was more akin to their own.