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• 27 Jun

  A Testimonial From A Client Turned Down By Factoring Companies Due To Their Low Turnover

  

  Factoring companies often only take on clients that reach their turnover threshold. This is a testimonial from a recruitment company that we helped overcome that issue.

  Turned Down For Factoring Due To Low Turnover

  Our client was operating within the recruitment sector, one where there is a high dependence on recruiter invoice finance for cash flow financing. However, our client had applied directly to several factoring companies and had been turned down for factoring due to their low turnover (annual turnover is the total sales a business achieves each year).

  Minimum Annual Turnover

  It is common for some factors to seek clients that are above a certain size. In many cases, that is defined by their total annual sales or turnover. In this case, our client hadn't met the minimum threshold for the funders that they had contacted.

  Low Turnover Factoring

  We were able to introduce them to a factoring company that was able to help. They were keen to support small, growing businesses and to that end, they did not apply the minimum thresholds that our client had seen elsewhere. We work with funders that have no minimum size limits at all. This can be ideal for small businesses that are just starting out.

  Testimonial From Our Client

  This is what the MD of our client had to say about the service that they had received from FundInvoice.

  "Very professional and good listeners and understanding. Helped our company when we needed a Factoring and Invoicing company the most. We had been turned down by various factoring companies because our turnover was low at the time".

  Helping Small UK Companies

  This is a perfect example of how we can help smaller businesses find the funding that they are struggling to secure. This is a great example of a small company that can use the cash flow benefits of small business finance like factoring to go ahead and grow its business. Growth is often not possible without having adequate funding in place.

  By Glenn Blackman