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£50k flexible overdraft facility established for social care agency

The new alternative to a bank overdraft!

A social care and staffing agency had traded successfully for 10 years however a change in the way  local authorities and PCTs pay their invoices caused a gap in working capital. With up to 70 staff paid weekly they could not wait for up to 6 weeks for their invoices to be paid. They approached their bank who could only offer limited options. XL Business Finance were able to recommend a flexible overdraft facility. This facility was arranged in a timely and efficient manner at a costing comparable to a bank overdraft, all without the business having to move their existing banking arrangements

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