Facebook - Shropshire Business Twitter - Shropshire Business LinkedIn - Shropshire Business
https://www.global-freight.co.uk https://www.fsb.org.uk/join-us.html

Finance experts offer helping hand

A county business got a welcome helping hand from a neighbour when it needed to fulfil an important contract.

Q Financial Services helped fellow Shrewsbury firm Team4You UK recruitment agency to leverage its unpaid invoices into a cash injection at short notice.

Experts from Q helped Team4You UK set up an Invoice Finance Facility, which in turn allowed the recruitment agency to provide temporary staff to Nuffield Health - without having to worry about its cash flow.

Invoice financing gives a business early access to money owed to it in unpaid invoices. Instead of having to wait for invoices to be paid by customers, the lender can advance up to 90 per cent of the invoice cash value within a short time frame.

Mike Barton, commercial executive in Q’s Commercial Finance department, said: “Team4You UK wouldn’t have been able to provide the number of staff they did without the Invoice Finance Facility.

“Being able to quickly access money tied up in unpaid invoices allows small businesses to react to opportunities as they arise, without having to worry about their cash flow.

“The invoice finance for Team4You UK was quick and easy to set up as we have a great relationship with the lender, and I’m delighted we were able to help in this way.

“We initially got to know Team4You UK through an outreach initiative we ran in Shrewsbury and have subsequently built up a really strong working partnership with them, often attending networking meetings together both in the town and beyond.”

Team4You UK director Jess Bailey said: "Now we have invoice finance in place, we are able to supply our clients with highly-skilled temporary workers. We know we have the security of factoring our weekly payroll without it affecting our cashflow as a business. All of this is very important to us as a reputable, ethical recruitment agency.”

Pictured:  Mike Barton and Jess Bailey

https://www.lblaw.co.uk