Frequently Asked Questions:
A: Turnover from startups projecting £350k in first year to £15 million where funds required up to £2.5m
A: The business must be a Limited entity or LLP– we will not deal with sole traders and partnerships.
A: We will always look to secure a Personal Guarantee from the major shareholder/director of the business – whether this is limited, will be subject to the facility and considered risk of the debt. We will always look to the strength of that Personal Guarantee, in terms of whether they are homeowners or not. This gives us more traceability to the individuals and value to the Guarantee.
A: We will always gauge the strength of a lead, based on the debtor book, and this is the first piece of information that we request – We then set about applying for credit limits on the top 5-10 customers as an early indication.
If the debtors appear not creditworthy, this may well be where the lead comes to a halt, and we cannot proceed any further – We will of course come back to you to see if they have any supporting information.
A: If the debtors appear supportive to the limits required, the next stage is to speak to the prospect regarding the invoicing procedure and paper trail to support the debt.
A: We will look to fund Turnaround situations, Manage-aways and instances where the current funding relationship has broken down. Again, all subject to the above debtor consideration being in place.
A: Our flexible approach means that we will always look for ways to fund invoices so that we can provide finance to support the clients’ business. We view each client on a case by case basis.
Q: The business is exposed to only a few debtors and concentrations can occur. Can you fund these debtors?
A: We look at this on the strength of the debtor, the paper trail involved and the security available. We can also look at selective debtor facilities.
Q: Our ability to collect cash on time from our customers sometimes is problematic. How can you help?
A: We can also provide credit control support functions such as debt collection and debtor verification. We have more information about this too, and you will find all of this in our solutions section under Outsourced Credit Control.
A: We look to make same day initial contact.
Q: Once the offer is accepted by my client, when can they expect to commence the facility and receive the initial funding?
A: The vast majority of our prospects receive their initial payment within 5 days of signing our offer (subject to satisfaction of pre-conditions).