Cleaning company increases turnover with invoice factoring
Industry: Contract cleaning
Product: Invoice factoring
Facility size: £800,000
As a highly seasonal business, this specialist cleaning firm has a high demand for capital in the summer months due to the labour-intensive nature of its work.
The company had seen turnover grow rapidly year on year and, as a result, needed to secure additional funding to support expansion and be able to deliver additional contracts. It was vital that cash flow remained steady to ensure staff were paid and jobs were completed.
Close Brothers Invoice Finance were engaged because they had supported the company with an invoice factoring facility previously. The business was confident they could rely on Close Brothers for fast decision making and a reliable finance package.
After discussing the company’s requirements and ambitions, we were able to offer the business a flexible invoice factoring solution. The facility provides the short-term cash injection needed by the business to increase turnover, as well as additional invoice management support.
