This highly experience software development company backed by £20m of venture capital funding was ready to launch a new product into the hugely important internet security sector.
The trouble was the business was in its early stages and it had not yet reached break even on turnover of £1m. Also, whilst the first years sales for the new product were anticipated to be US $1m it was all to one customer, based in America.
The majority of invoice discounting companies in the UK will not look at single invoice finance and of the few that will, "software" is a dirty word. Fortunately, we knew from experience what the problem areas were and, despite the fact that we were in effect looking for a single invoice "export" facility we found a lender able to provide the discounting facility required.