Industry: Transport and haulage
Product: Invoice discounting and bad debt protection
Facility size: €250,000
The customer is a family-run transport and haulage firm which operates throughout Ireland and the UK, with a focus on the food industry. An invoice discounting facility was already in place with another provider, however a number of issues meant the owners wanted to look elsewhere. The fees were becoming increasingly costly and they had been allocated various different ‘account managers’ in a short six month time period. In addition, the overall facility was time-consuming and onerous to use.
The Close Brothers team was able to offer a facility on a like-for-like basis, but with many plus points; a dedicated account manager, 100% bad debt protection and significantly lower fees. This will mean the organisation can continue to grow safe in the knowledge they have sustainable funding in place and protection on their customer accounts.
