Cashflow solution for a Commercial Cleaning business
Whilst many SMEs have been struggling through the current economic conditions some sectors are in high demand.
Commercial Cleaning companies are currently seeing an increase in demand for their services as businesses focus on hygiene to limit the spread of Coronavirus.
An existing Cashflow Finance client reached out to see if we could provide additional support for a new entity that they had launched due to the surge in demand for its commercial cleaning services.
The increase in demand for their services meant that they had a cash flow gap they needed to bridge and required a funding solution to source essential cleaning supplies, keep up with creditor commitments and meet their payroll obligations.
In a short period of time, Cashflow Finance provided this business with an additional Debtor Finance facility with a limit of $100,000, enabling them to comfortably meet their commitments and provide ongoing cash flow to support their business growth by releasing 80% of the value of any new invoices issued.
Helping SMEs in the current economic scenario
Whilst this is a great example of a recently settled transaction for a flourishing business, we can also assist businesses who are facing hardship in the current environment and can provide them with much needed support.
Get in touch if you or your clients need help with finance.