XL Business Finance has recently sourced a confidential factoring facility to a mechanical and electrical sub contractor.
The business had secured new contracts and the next 12 months forecasts suggested an increase in turnover to £3m up from £2m. Due to the highly contractual nature of the debt the business could not go to their bank for an increase in overdraft and they were also told factoring or invoice discounting was not an option. Currently there are at least 5 independent factoring companies providing contract finance and all provide a slightly different take on the facility.
XL Business Finance understands this market inside out and for any business requiring finance against applications rather than invoices we can help. Contact us today Manchester, 0161 980 0577, London 020 3301 4540
