• 14 Apr

    Car Body Repair Finance Against A Single Debtor

    Single debtor car body repair invoice finance.

    Recently, we were able to assist a car body shop repair company that wanted car body repair finance against a single debtor for circa £1.4M of annual sales turnover.

    Single Debtor Car Body Repair Finance

    Typically, invoice finance against single debtors can be difficult to find. However, in this case, we were able to introduce our client to one of our panel of funders that could meet their requirement and finance accident-related jobs.

    Number Of Debtors

    In fact, body shop finance doesn't take any account of the number of debtors or the number of invoices that the repairer raises and deals with. This is not the case with invoice finance to other sectors, in many cases, they require a spread of debtors to provide funding.

    There are exceptions to this rule. We have successfully found single debtor invoice finance for clients in other sectors, but there are a limited number of companies that offer the service.

    Debtor Numbers

    Fortunately, our funding partners that deal with car body shops don't take any account of debtor numbers. A repairer can even submit single invoices for funding if they wish. It is a very flexible form of receivables financing. Each transaction is treated as a standalone proposition.

    Funding A Single Invoice

    In each case, the client company submits their invoices and the supporting documentation evidencing that the work was booked and completed to the satisfaction of the customer. The validity of that transaction is then verified with the insurance company that will ultimately pay the invoice. This process creates a solid book debt against which to fund.

    Car Body Repair Finance Against A Single Debtor

    Therefore, if you are seeking car body repair finance against a single debtor, we are able to assist you. This is the case even where you are a medium-sized company turnover more than a million pounds each year.

    By Glenn Blackman

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Examples of funders we work with:

ifg
time finance
skipton
inksmoor
seneca
funding invoice