Location: Parramatta, Sydney
Annual Turnover: $2,000,000
Accounts Receivable Factoring Limit: $300,000
Prestige Recruitment Pty Ltd was a startup corporate recruitment agency servicing candidates and clients nationally. With over 45 years of recruitment experience, the company although new, was experiencing rapid growth.
Prestige Recruitment was looking at accounts receivable factoring to support their growth. They had a growing ledger but weren’t getting paid quick enough to maintain a constant cash flow.
Due to their limited trading history, they weren’t able to secure an overdraft or a business loan from their Bank. As a result the company was also struggling to pay wages and couldn’t take on additional contracts due to poor cash flow.
Accounts receivable factoring – a flexible business funding solution
BCashflow Positive was able to provide immediate funding to Prestige Recruitment by releasing the cash tied up in their unpaid invoices using accounts receivable factoring. Up to 80% of the invoice face value is made available in as quick as 24 hours, and the remaining 20% is released as soon as their client pays. Here’s how it works.
Benefits of accounts receivable factoring
With the use of our accounts receivable factoring, Prestige Recruitment is able to pay their staff on time and take on more business with the confidence of knowing they have access to immediate cash flow.
BCashflow Positve’s accounts receivable factoring is also flexible requiring no property security or quarterly audits.
Why BCashflow Positive accounts receivable factoring?
Unlike traditional lenders who tend to be restrictive, BCashflow Positive is not reliant on bricks and mortar security. We are more driven to finance business growth through the strength of your debtors. Within 6 months of setting up Prestige Recruitment’s facility, BCashflow Positive was able to increase their limit to support the continued growth.
At BCashflow Positive we pride ourselves on providing flexible accounts receivable factoring solutions to our clients. With a nationwide presence and offices in Sydney, Melbourne and Perth, you will be dealing with our friendly and experienced team. Click here to learn more about us.
Call us on 1300 937 292 to finance growth by converting your invoices into cash.