GRENKE Invoice Finance offers tailored solutions to its clients. One such client, a manufacturer of bespoke high-end furniture to commercial and retail customers, recently began experiencing cashflow constraints for a combination of reasons. While the company was facing higher costs for materials, a proportion of their customers were insisting on 60-day payment terms once the furniture had been manufactured and delivered. This left the business to plug the working capital gap in the meantime.
GRENKE Invoice Finance met with the client and listened to the challenges that the company was facing. Not all their customers had quite such long payment terms and therefore GRENKE Invoice Finance proposed a selective facility. It enabled the management team to choose which of their debtor invoices they wished GRENKE Invoice Finance to purchase. GRENKE Invoice Finance would in turn provide them with the cashflow which was needed to keep the business going. But GRENKE Invoice Finance went a step further with their offering. Not only did they set up a £250,000 funding line for selective debtors, they also provided bad debt protection as part of their package and a collection service.
The company is delighted with the service that GRENKE Invoice Finance has provided. The management team explained, “GRENKE was very efficient with their consultation. The team listened and understood the cashflow issues we were with experiencing due to the combination of higher material costs and the credit terms some of our customers were requesting. The solution they put together for us addressed all our requirements. We are so grateful to Gary and Matt at GRENKE Invoice Finance who arranged our facility and got it up and running for us.”
GRENKE Invoice Finance’s Sales Director, Armand Roux, added, “This type of scenario is becoming more of a regular occurrence. The rises in inflation in recent months are affecting an increasing number of businesses. We are delighted that we can help and support businesses which find themselves in situations such as these.”