We’re particularly proud to share this story. A haulage business we’ve worked with before got back in touch recently.
A few years back, they left Team Factors for an Invoice Discounting facility offered by a bank. While this seemed like a promising solution at the time, they soon encountered a series of challenges.
They ended up with headaches over concentration restrictions, debtor limits, and were struggling for time having to do credit control in house. The invoice discounting facility wasn’t working for them and was putting a huge strain on their business.
How We Helped
After a detailed chat about their situation, we realised that a factoring facility would work better for them. They freed up one day a week outsourcing their credit control and by getting more flexibility on limits and concentration released over £100k in withheld funds.
The Result
When the deal was completed, Luke gave the directors a call to check in and we were taken aback by their response.
They said they finally felt they could breathe again, and their exact words to Luke were:
“We want to express our gratitude to the entire Team Factors team for their help, guidance, and quick response in bringing us on board. Our previous factoring company showed little interest in our business and seemed more focused on delaying payments owed to us.
From our first contact with you through to completing the deal, your responsiveness and follow-up have exceeded all our expectations. We thought our business was struggling, but your audit confirmed there was nothing wrong. Within a week of joining, funds were in our account, and we’re now on the path to recovery. We truly can’t thank you enough.”
It’s moments like this that remind us why we do what we do. This business is now back on track, and we’re proud to have been a part of making that happen.