Invoice factoring can help all kinds of
businesses to improve cash flow and remove the stress of collecting monies owed
from clients.
One of our clients, The Target Group, is an established recruitment company in the
south east of England, and has used invoice factoring to help expand the
business.
Reg Roberts began the business in 1991, sourcing
temporary staff of all types, from manual workers to company Directors. He
initially funded the business on a bank overdraft, but he grew so quickly that
the bank stopped funding, worried that he was overtrading.
That’s when Reg turned to invoice factoring. He
realised that invoice factoring would give him the significant cash injection
that could help fund his ambitious acquisition programme. But more than that,
he knew that his facility would grow as the business expanded, so the more successful
his business, the more cash he could have available to reinvest.
Over the next 15 years, Reg grew the business
from £0.5 million to £4 million. He says that he has always found the service highly
efficient, accurate and personable.
Reg appreciates the professional support he has
enjoyed over the years and tells us. “I
have always been able to extend the credit limit when I’ve needed to finance
the business.”
