By Daniel Hunter
Edenbridge-based quantity surveying practice, Bill Prep & Surveying Ltd, has secured a £100,000 funding facility through Invoice and Asset Based Lender, ABN AMRO Commercial Finance.
The Fast Track Factoring facility, arranged in just four days, will allow Bill Prep & Surveying Ltd to embark on a recruitment drive and invest in new bespoke software.
Co-founders, Ciara and Vince Hughes set up the company in 2005 and view the new facility as an opportunity to focus on new client acquisition and take the business to the next level.
“We used to fund the business with a bank overdraft, but the need to constantly verify invoices was quite disruptive," Vince Hughes said.
"The credit control facility from ABN AMRO Commercial Finance will mean our important contacts will be dealt with professionally and efficiently, allowing us to focus on growing our company.”
Bill Prep & Surveying Ltd approached ABN AMRO Commercial Finance directly for the Factoring facility. The total agreement time, from first survey meeting to final pay out, was just four days.
“It’s great to be able to support an ambitious company as they pursue growth. Turning the deal around in just four days means Bill Prep can push forward without delay," Tony Tydeman, Regional Manager at ABN AMRO Commercial Finance, commented.
Bill Prep & Surveying Ltd's facility includes a six-month break clause with no tie in, often an important factor for those accessing this type of finance for the first time.
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