Invoice Discounting: Strengthening Finan...
We often advocate the use of Invoice Finance to enhance cash flow, particularly for clients facing late payments and lengthy terms. Yet, invoi...
About The Client
A long-standing customer of ours in the engineering industry contacted us to say that they were looking to urgently buy a 10-year-old CNC drilling machine. This was a very well-established family business, run by a father and son. The son had started to really drive the business forward, and was winning new contracts. The machine was being supplied by another engineer, and they needed to urgently purchase it from them in order to use it for an important job that was starting at the end of the week.
Objectives
We needed to arrange the finance for the CNC drilling machine as a matter of urgency for our customer to commence the contract.
So, we immediately started detailed consultations with the client over the phone, in order to capture all of the details required to fully understand the background, and to identify the finance solution and funder that was best suited to their requirements.
We also needed to obtain clear title for the machine, as the supplier had purchased the equipment a long time ago in the name of an associated business that no longer existed.
How We Helped
The process of arranging the finance started immediately, and meetings with our customer took place the very next day after the customer contacted us. We were able to successfully confirm the proof of title, and everything was resolved and arranged within 24 hours.
The deal for the machine was paid out within 48 hours of their initial enquiry, meaning that they were able to collect the machine with plenty of time before their new contract commenced.
