Electrical Contractors – Invoice Finance Case Study
An Electrical contracting businesses came into difficulty when their main customer went through a major restructure and didn’t pay for three months.
A forced closure
After 7 years of successful trading, an electrical contracting business had to shut their doors after one customer -who contributed to 80% of their turnover- went through a major restructure and didn’t pay for three months!
Ashley breathes new life
As they started up again under a new name, the banks wouldn’t help as they were getting back on their feet. But Ashley quickly said yes to the funds they needed. Within days they had the money to deal with the higher volume of customers, buy two new vans, and quickly generate capital to meet supplier payment deadlines and pay staff wages.
No more worries
Ashley put a £35k Confidential Invoice Finance facility in place. Rather than waiting up to 60 days or longer for payment, the business can now unlock the cash upfront from their unpaid sales invoices and grow their business stress-free.
Even though Stuart needed help with cash flow he was sceptical about funding. Now he wishes he’d done it sooner!
These guys needed a lender who could see the good in their business, not dwell on current issues.
Condor Blinds and Shutters
“We struggled to find funding – the banks don’t want to know, particularly if you have a less than perfect credit rating.”
DH Condensate LTD
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Espere Healthcare Ltd
Long term partnerships makes the cash flow work….
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£40k Business Loan saves ceiling company from collapse
£40k Business Loan paid out in 4 days, saving ceiling company from collapse