The company had been trading for just over one year when the owner realised he needed a cash flow facility, as turnover was growing fast - there was the risk that the company would grow itself out of business! They had already met with their bank's factoring company, who had quoted and audited the business. Unfortunately the factoring company quoted them with a large minimum annual charge.

One of the pre-requisits of the facility was advanced fuel bunkering - allowing a way to get around this cost as the major expense of the company.

The owner than used a factoring broker. Using a factoring broker allowed the owner to talk to an independent source who would put them in touch with the best factor for their needs and that involved a lower annual charge.

Another advantage of speaking to the broker was the relevant regional manager was contacted promptly and a meeting was arranged in the same week. Within one week a cash flow facility was offered and new contracts could be taken on.