One of our success stories this month was the completion of a £500,000 facility for a new client of ours. The business was struggling with an invoice finance facility that wasn’t working as they had hoped and their lender introduced them to Paul to see if he could assist via replacing the facility and some additional working capital.
Paul visited the client and with the help of a new supportive lender we were able to uplift their facility and provide an overpayment to assist them through the period. This saved the business from being placed into administration and 10 jobs.
February also seemed to be the month for “emergency funding”. We placed a loan into a fresh produce business in less than 48 hours and the client repaid the facility in a matter of days once their cash flow position had rectified itself. This then led to an influx of referrals for us. It’s great to see businesses getting the assistance they need from our panel of proactive lenders.
In the middle of February, we were invited to join Market Invoice for their launch of the new “Market Invoice Pro” product in Manchester. The event was a great success and is a testament to the hard work they have put in. I am looking forward to working with them on this through 2017 and onwards.
Our second team meeting was held at Ultimate Finance’s offices in Lutterworth. I would like to thank the team for their hospitality and the use of their facilities. It was good for us as a group to catch up with them and hear about their new product developments.
Across the group we have seen an incredible upturn in work from our valued introducers. I am not sure if this is related to Brexit or Trump but there has been a definite change in the level of work coming in.
The alternative funding space has seen a big uptake with funding products like our merchant advances which are becoming more mainstream for us, with a record level of clients exploring these facilities. With their flexibility of repayments and speed of funding available I think this area of funding will only continue to develop over the next 12 months.
March, bring it on ……..