Earlier this year, our Business Development Manager, Chris Green, received a referral from another broker for a difficult case involving a new start up. The broker who referred the client to us after being unable to help. However, we gladly took this new business on board confident we would be able to help.
The client had a poor personal credit file which was not an ideal start. They only had a single debtor but the issue was due to our client asking for commission payments to be factored.
The main problem with factoring commission payments is that it can be hugely difficult to do due to contract clawbacks and cooling off periods. As a result, this can and will put most funders off invoice financing.
However, as a broker who prides himself on getting to know his clients, Chris took the time to fully understand the commission payments and the contracts behind them. As a result, Chris managed to find a funder, from our panel, who was willing to talk to our client.
Just over a week later, our client had received payment from his funder and was enjoying the benefits of his vastly improved cash flow.
Chris is immensely satisfied to be able to succeed where others before had failed. He was also happy that he managed to help a client who was situated locally to the Newport office. A client who was just starting out in business to fulfil his dreams and potential.
Here at WF Financial Solutions, we pride ourselves on getting to know our clients and treat each one individually to suit their needs. Although, we are a national broker, we’re extremely passionate to support locally owned businesses, like this most recent client.