Wise Factoring were delighted to help a new start courier company with funding, just in time for the busy Christmas period.

Our client was referred to us by another client, after struggling to find a lender that would support them. The challenge was that our client was a newly formed business and only had one vehicle on the Courier Exchange. Most lenders like to see a spread of risk, so we had to uncover the longer term plan so we could present it to a lender we had in mind. Our client actually had three other drivers lined up and was just waiting for the right vehicles to become available to get them on the road. They were also due to start a new private contract outside of the courier exchange, therefore spreading the risk and giving the lender more confidence.

Armed with this information, we were able to explain to our lender the plan and how having an invoice factoring facility would really accelerate their growth.

We managed to get an initial £50,000 facility agreed and the first invoice was paid out just before Christmas, allowing our client to keep the vehicles fueled up and on the road.

It really pays to work with an experienced broker like Wise Factoring, where there is a will (and invoices) there is a way!