• 16 Jul

    Case Study Factoring For A Caravan Body Repairs Phoenix

    This case study is about how FundInvoice found recourse factoring for the phoenix of a Caravan Body Repairs company.

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    Case Study Factoring For A Caravan Body Repairs Phoenix

    In this case, we assisted a company that was a phoenix of a previous business.

    What Is A Phoenix Business?

    A Phoenix business takes over from a previous business that has failed. It is named after the mythical bird, the phoenix, that was said to set fire to itself every 500 years and rise again from its ashes. This term has been coined to describe a business that rises from the ashes of a previous failed venture - a phoenix business.

    Getting Finance For A Phoenix Company

    Case Study Factoring For A Caravan Body Repairs PhoenixThe previous business failure is something that can make it difficult to access traditional forms of business finance for a new Phoenix venture. Often a bank may be reluctant to provide finance where a previous business has failed.

    However, facilities such as recourse factoring can be made available to companies with prior failures making that an ideal choice to fund a phoenix startup.

    Find out more about getting finance after a liquidation.

    Caravan Body Repairs Invoice Finance

    Often repairs carried out on caravans after a crash are paid for by an insurance company. This makes that debt very straightforward to fund against.

    Getting 100% Prepayments Against Invoices

    FundInvoice is in contact with specialist bodyshop factoring companies that can finance this type of invoicing. Often a 100% prepayment of the invoice value, minus the fee, can be provided for each transaction within 24 hours of submitting the invoice for funding. This cash helps dramatically help the cash flow of a garage or spray shop and it can be used to pay for expenses, staff and other costs.

    Further Information

    See another case study about funding for a Motorhome And Caravan Repair Company.

     

    By Glenn Blackman

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Examples of funders we work with:

time finance
closebrothersinvoicefinance
igf
pulse cashflow finance
seneca
nucleus