The classic requirements for any type of invoice finance facility (factoring or invoice discounting) is that you must have provided goods or a service where delivery can be proved usually by signed delivery receipts. This client provided a mystery shopping service where there were no goods and certainly no delivery receipt (otherwise it would have been anything but a mystery).
The client had been trying for months to arrange a factoring facility to enable him to take advantage of the significant opportunities that were opening up for the business but without success and his bank were proving clueless, unless he could back it up by property.
It's not as if the client didn't have an excellent reputation and his customers were all blue chip comprising Airlines, Car Manufacturers, Major Garage Groups and High Street Stores. They would discuss with these prospects the type of service required: telephone, visual etc and price accordingly. The mystery shopping would then take place at various sites as agreed (i.e. say 6 or 7 out of 25 stores).
We discussed the problem with a specialist invoice finance provider and they were willing to provide a factoring facility where a CD/DVD is produced as evidence of the mystery shop.
Our client is now able to concentrate all its energies on growing the business by 25% per annum.