- 25 June 2011
- Posted by: Lucinda
- Categories: Business Services, Success Story
“Clancy got us a much better deal that really allowed us to get maximum cash from our debtors ledger.”
TELE SALES COMPANY, TURNOVER €2.5M
The Problem: Single debtor concentration, funding restricted.
This business had one key customer representing 90% of turnover. They were owed €600K and had an Invoice Discounting facility. However their key debtor was capped at 35% of the outstanding ledger. As a result, they could only access €150K from their sales ledger.
The Solution: We introduced a specialist funder offering Selective Invoice Finance. They credit checked the key customer and were happy to fully fund the debtor. They were able to fund the entire ledger at 80%. As a result, the company were able to release €480K from their outstanding debtors – an additional €330K. This provided the company with the much needed cash for payroll.