Factoring

Recourse Factoring and Payroll - Turnover: £750,000

A new start recruitment company supplying nursing staff and teachers to private hospitals and schools within the Greater London district, needed funding to bridge the gap between weekly payments to temporary staff and monthly sales receipts from customers. Sterling Capital Reserve was able to put them in touch with a specialist factoring/discounting company that provides funding and administrative services to the recruitment industry. They now have a healthy cash flow, and full back-office support with the payroll function, freeing up valuable management time.

Stock Finance and Factoring - Turnover: £400k

Established for just 12 months, our client had quickly built the business up to achieve turnover of £400k during the first year. They had no bank facilities, but wanted a working capital facility in place that would grow in line with sales. Factoring was the obvious choice.

We arranged a factoring facility with an independent factoring company, and were also able to put a small stock finance facility in place. The stock finance facility is particularly helpful, since the goods are imported, and our client typically has to pay suppliers up front, with delivery some 4 weeks later. Our client can now concentrate on growing the business without the headache of chasing debts or worrying about cash shortfalls.

Confidential Invoice Discounting - Turnover: £800k

This London based business had a couple of tough years of trading, but was forecasting a return to profit, and required an invoice discounting facility. They were particularly interested in the confidential aspect of a facility, however their financial position meant that the majority of discounters turned them down as unsuitable, and could only offer factoring. Here at Sterling Capital Reserve we deal with independent factoring companies who are flexible in their approach and tailor facilities to meet the needs of individual clients. We put them in touch with a discounting company that took time to understand the business. The process took a little longer than usual, but the client agrees it was certainly well worth the wait.

Recourse Factoring - Turnover: £600k

Established around 18 months, our client was experiencing a period of rapid growth, and had recently taken on several new haulage contracts to Europe and the US. Their customers were not bad payers, but they wanted assistance with collections, and a boost to cashflow. Factoring provided the solution to all of their requirements. Debt turn has improved, and they no longer struggle for working capital.

Factoring - Turnover: £150k

A sole trader, operating an established private hire car firm, with a mix of his own vehicles and freelance owner/drivers, approached Sterling Capital Reserve for help when his own bank was unable to provide a working capital facility. He wanted to expand the business, but cash flow was poor, due to the amount of cash tied up in his account customers. Factoring was the solution. Sterling Capital was quickly able to arrange a factoring facility, with cash being made available to our client within 24 hours of invoices being received by the Factor.

Confidential Invoice Discounting - Turnover: £1m

This family run print finishing company needed funding to expand the business. Their bank was unwilling to increase their overdraft facility, and recommended invoice discounting (and their own discounting company) as an alternative. Despite the long standing banking relationship with the client, and the excellent administrative systems in place, the bank-owned factor lacked the flexibility to structure a deal for them. The bank then recommended that they contact Sterling Capital Reserve for assistance. We put them in touch with an independent factoring company, and a facility was quickly arranged to the satisfaction of both parties.