Modified Solutions, a building fabric maintenance company, is benefitting from bad debt protection as part of the online invoice discounting finance it uses to fund the business.
Modified Solutions raises invoices and then logs them on the Close Brothers Invoice Finance online system, IDeal™. They then get up to 95% of the value of those invoices paid immediately instead of having to wait for its customers to pay.
The firm also uses the 100% bad debt protection service so that they are protected if any of their clients go bust. Having had the experience of bad debts in the past, and knowing the volatility of the building industry, bad debt protection is a vital precaution for Modified Solutions’ business.
Invoice financing gives Modified Solutions funding that they couldn’t get from traditional sources. It only took a matter of days to set up and they’ve found it more cost-effective than the overdraft facility they had originally relied upon.
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Modified Solutions raises invoices and then logs them on the Close Brothers Invoice Finance online system, IDeal™. They then get up to 95% of the value of those invoices paid immediately instead of having to wait for its customers to pay.
The firm also uses the 100% bad debt protection service so that they are protected if any of their clients go bust. Having had the experience of bad debts in the past, and knowing the volatility of the building industry, bad debt protection is a vital precaution for Modified Solutions’ business.
Invoice financing gives Modified Solutions funding that they couldn’t get from traditional sources. It only took a matter of days to set up and they’ve found it more cost-effective than the overdraft facility they had originally relied upon.
Watch the video
