Factoring case studies
Generations Ahead Ltd
Michele and Mike Riley started Generations Ahead in Lewes, East Sussex in June 2002 to supply baby consumables to trade customers. All their products are produced in an environmentally friendly way to appeal to responsible, modern parents. Their product range is extensive from washable nappies to baby buggies.
Customers range from baby boutiques to large supermarkets that command flexible trading terms. With factoring in place Mike and Michele now receive up to 80% of the value of their unpaid sales invoices within 24 hours of them being raised. They can access their account through an online system, choosing to call on funds, as they need them.
Lloyds TSB Commercial Finance were able to complete the factoring agreement within just two days.
Ambitious plans are set for the first years of trading, with cash available when needed Generations Ahead are confident of meeting their sales projection of £500k.
Director Mike Riley said: "Factoring has allowed us to be flexible in the growth of the business. We would not have been able to take on supermarket customers without it. "
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