Late payers can cause a great deal of distress to businesses of all sizes, but it is SMEs that can be hardest hit. Late payment adds a layer of uncertainty to trading and can cause the kind of cash flow crisis that we could all do without. Research from the Asset Based Finance Association (ABFA) found that clients of small companies take on average 72 days to pay an invoice, with micro-business owners waiting six weeks longer to be paid than larger firms.
Our client, supplying window closures for aluminium doors, came across this issue with several large orders. The lack of monies received meant that they could not buy the stock they continuously required. When they approached us for funding, they needed cashflow for an order they needed to fill within 2 weeks. Within 3 years of starting their facility, they trebled their turnover and have moved to bigger premises.
Paul Lomax of Regency 'We are delighted that our continued support has enabled the business to grow following their frustrations at late payments'
Regency Factors PLC
For more than 20 years we have been structuring innovative financial solutions for our clients, many of whom today trust us with their invoice finance, trade finance, asset finance and purchase finance needs. Our goal is to help your business to grow, to put decades of professional financial expertise to work to ensure that this happens, and to do so in an ethical and responsible fashion, offering each and every client the support and guidance they require.
Regency specialises in developing bespoke financial solutions for clients from across a broad spectrum of sectors. We'll provide you with a rapid response to your needs, a whole-of-industry perspective on solutions, and advice to help you decide.
If you’d like to find out more about alternative business finance facilities, we’d love to be able to help. Why not give Regency a ring today on 0161 280 4010, drop us an email at lynnew@regencyfactors.com or browse our website for more details on how our facilities work.
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