Credit control facility provided for construction sector.
We were asked to arrange finance for a business in the construction sector and our initial assessment suggested we could alleviate their cash flow problems by providing a credit control facility.
The business had substantial late paying customers and wanted to factor the debts to bridge the cash flow gap. However we were able to provide a weekly credit control facility which negated the need to borrow money and improved the company’s debtor repayment days considerably. The cost of the credit control facility was considerably lower than the likely charge to factor the sales ledger, so we have a happy client.