SFP BROKERS INTRODUCE INVOICE FINANCE OPTIONS TO AID CASHFLOW DURING OFFICE EXPANSION

Overview –

Originally based in London, a small company specialised in providing two-dimensional surveys to planners, architects and designers had plans to expand to three offices in order to offer topographical and building surveys using state of the art equipment.

The company’s managing director stated, “Originally we were using the invoice finance provided by our bank. But it was proving to be expensive and we were locked into a long-term arrangement which required us to give three months’ notice. Because of the way our business works we needed some sort of invoice finance arrangement, but we also wanted something that was cheaper and more flexible.”

The Role of SFP Brokers –

Touch Financial, the trading name of SFP Brokers, was used to introduce to the company the best cash flow solution. “Performing a detailed survey of land or buildings can take anything from a day to a couple of weeks. We often pay considerable expenses in advance but only invoice at the end of the job. Even if the client pays within 14 days, which are our terms, our cash flow comes under pressure. In the current climate many clients are paying later and later. Invoice finance keeps our cash flow going.”

Outcome –

The results as quoted by the survey company’s managing director, “Touch Financial sourced three alternative suppliers of invoice factoring and we chose to go with Bibby because of their very flexible approach. They don’t have the lock-in that the bank forced on us. Bibby are a good crowd and we enjoy good communication with them. SFP Brokers proved to be on the ball and they haven’t just disappeared now the deal’s done, they’re keeping in contact.”