Location: South Glamorgan
A growth logistics and distribution company who have grown steadily since their inception in 2008 needed to source a new invoice factoring facility for a new debtor who required 60 day payment terms. The invoice finance facility needed to be started ASAP as the debtor had been contracted two weeks previously. They had been quoted by one lender already but felt the costs were far too high.
The logistics company then approached First Financial who, due to their knowledge of the market, finance products and close lender relationships, were able to immediately confirm that there were far more cost effective deals available.
First Financial introduced lenders with the ability to move quickly and provide competitive terms. The offer was accepted by the company the same day and the lender met with the Managing Director the following day to complete all the necessary due diligence.
The single debtor factoring facility was in place within 3 days of receiving the initial enquiry and the Managing Director was delighted at this outcome.