Factoring Case Study - Motor Trade

Deal type: Body Shop Finance Industry Sector: Motor Trade Turnover: £2.5m

A well established business funded by the bank with a mix of overdraft and commercial mortgage.

With banks generally looking to tighten up on lending parameters the directors were worried their bank would not provide the additional facilities they needed to grow the business. They were also concerned about the risk of bad debts going forward.

The solution was a factoring facility generating 85% of invoice value which met all of the company's working capital requirements going forward plus bad debt insurance to give them peace of mind in respect of their existing customers and more particularly in taking on new clients.

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