Skipton Business Finance welcomes another new client, which have taken out an invoice discounting facility together with a supplementary Enterprise Finance Guarantee (EFG) loan.
- Recruitment Agency
- £600k Invoice Discounting facility with £130k EFG loan
- Provide increased cashflow for business transaction
The growing recruitment agency required an invoice discounting facility to increase levels of cashflow, together with an EFG loan to provide extra cash to assist the buyout of a rival firm.
An invoice discounting facility enables the client to get cash quickly and simply for all of the invoices it issues, thus ensuring cashflow remains consistent, whilst the extra cash provided by the government-backed EFG loan unlocks extra funds to ensure the business transaction goes ahead successfully.
We look forward to working in partnership with our newest client!
Enterprise Finance Guarantee scheme
Skipton Business Finance is proud to be on the list of exclusive Enterprise Finance Guarantee lenders.
An Enterprise Finance Guarantee facility is intended for UK businesses primarily to improve the availability of working capital through term loans and the consolidation of overdrafts.
Businesses with turnovers of up to £25 million can apply for loans through the scheme, so it can benefit a wide range of small businesses, SMEs and owner-managed businesses.
It is a great way to supplement invoice finance facilities with that bit of extra cash to help provide a business with all the benefits associated with bigger and better cashflow, such as the ability to complete takeovers or mergers.
To find out more about the EFG scheme, why not take a look at our Focus on... EFG page.
There will be £2 billion worth of funds available to start-ups and small businesses through the Enterprise Finance Guarantee scheme up until 2015 and Skipton Business Finance are proud to be approved lenders.