- 25 June 2011
- Posted by: Lucinda
- Categories: Success Story, Transport
“Our funder was very difficult to deal with. However, Clancy found us a great funding partner – now we get cash in 24 hours and we know exactly where we stand”.
TRANSPORT BUSINESS, TURNOVER €800K
The Problem: Unhappy with existing funder, looking for alternative lender
This family run business had an Invoice Discounting facility but had ongoing issues with their existing provider. They were typically owed €200K, but the funder drip-fed small sums of money to them on an ad-hoc basis. As a result it was impossible to manage their cashflow and needed to change provider urgently.
Solution: We introduced them to a reputable Invoice Finance provider and within a week they had switched to a new lender who automatically provided 80% cash within 24 hours of receiving invoices. This enabled them to manage their cash flow and meet their financial commitments on a timely basis.