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• 13 Jul

  The Invoice Finance Providers Recruitment Companies Plan To Use

  

  Recruitment agencies often turn to invoice finance companies to help maintain and support their cash flow. Our recent recruitment sector research found that 1 in 3 agencies* were planning to continue using an invoice financier over the coming year. This usage was to support their planned growth as the sector recovers from the effects of the pandemic.

  Invoice Finance Providers Recruitment Companies Plan To Use

  We went on to ask them which of the invoice finance companies they were planning to use. In all cases, they planned to stay with their existing provider. Similarly, all those interviewed said that they were happy with their existing funder, a feather in the cap of those that are providing this type of cash flow funding.

  Happy With Their Invoice Finance Company

  These were the invoice finance companies that the respondents told us they planned to continue using as they were happy with them (in alphabetical order):

  • Advantedge Commercial Finance
  • Hitachi Capital Invoice Finance
  • HSBC Invoice Finance
  • Lloyds Bank Commercial Finance
  • Metro Bank
  • RBS Invoice Finance
  • Skipton Business Finance

  (One respondent planned to use a provider but did not want to specify who).

  Other Alternative Funders

  This doesn't mean that there aren't other alternative funders serving this sector. With over a hundred different providers in the UK, there are lots of options. Our sample size was small so there will be many other recruiters using different providers. Often, specialist providers may be required to overcome certain issues or provide particular product variations for clients. For example, selective invoice financing services are only available from a very small number of providers.

  Similarly, if a client has a previous adverse credit history, CCJs or prior business failures, they may need to speak to a specialist funder that will accept clients that are not so financially established. The same may be true for startups. Not all funders will handle new start companies, although there are several that do. If you need help finding a suitable provider, we can help. Please call 03330 113622 or contact us via this site. 

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  *Source: Recruitment Covid Study - May 2021 (30 respondents randomly selected from the recruitment sector).

  By Glenn Blackman