Factoring case studies
Carewatch franchisee
Ian Goldman set up Carewatch Preston and West Lancashire in September 2002 to provide home care in the local area. Ian wanted to ensure he had smooth cash flow for his current venture, in order to meet the time difference between paying staff wages and receiving customer payments.
The flexibility inherent in a factoring facility now means Ian has access to cash to meet all his Carewatch financial commitments when required.
So how does the relationship work?
Carewatch Preston and West Lancashire can call upon 90% of the value of their unpaid sales invoices within 24 hours of raising them, with the balance made available when their customers pay. Alex Lawrie Factors (a division of Lloyds TSB Commercial Finance) also provides a full credit control service, sending out customer statements and contacting customers for payment by telephone, helping free management time to get on with more strategic tasks.
Ian Goldman adds, "I found the Alex Lawrie staff very helpful and the initialisation of the system very quick and efficient. "
Lloyds TSB Commercial Finance Factoring Guide
- Get an Instant Quote
- Learn more about Factoring
- Read our factoring case studies
- Business Factoring
- Debt Factoring
- Factoring Services
- When to use factoring companies
- Invoice Management
- Factoring advantages and considerations
- Factoring for internal growth
- Loans, Overdrafts or Factoring
