A business manufacturing prepaid telephone cards recently approached XL Business Finance needing funding for 3 single debtors all of which were based on the continent. Having been declined finance from their own high street bank they were delighted to find that a factoring and export finance facility was available via a specialist factoring company.
Although the provider was a substantial financial institution and one of Europe’s biggest banks this particular factoring company were not interested in taking on the clearing banking or doing the commercial mortgage. Therefore the business was able to carry on using their existing finance company for clearing which kept the overall banking relationship on an even keel.
Tags: export finance, Factoring
