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Growing Fields of Funding

FreshLinc is a Spaling based company which works alongside it’s sister company Lincolnshire Field Products, which specialise in chilled food distribution. Recently FreshLinc has turned to invoice discounting to provide capital for the companies expansion and improvement of its premisis.

The deal of £6 Million has been sanctioned by John Barker and Graham Hay of HSBC Invoice discounting. This is great new relationship between the bank and one of the UK’s leading agri-food companies. The money will ensure that FreshLinc continues forward with company growth in the internal and international market. FreshLinc was founded in 1990 and has grown incredibly with a £40 million turnover. They own and fleet of 160 specialist regridgortated vehicles and employ 250 people across the country.

This type of financial security is great news for companies who want to expand, but need capital up front to do so. The capital that FreshLinc has raise has been tied up in invoices that are sent out to clients. The difference with this type of funding is that companies can get the credit quickly and not have to wait up to 90 days for payment. Invoice Discounting allows companies to send out their own invoices and chase payments from their own clients without disrupting the flow of business, the benefit of this is that they have contacted the lender, in this case HSBC, made them aware of the amount they need in capital and the invoices they have chosen to use to gain this capital. HSBC then secures the funds, sends up to 95% to FreshLinc and after all of the invoices have been paid, FreshLinc will then recevie the rest of the funds owed to them through the invoices minus a small fee. It’s simple and quick, its a sensible optiont, espcially if you need funds quickly and have invoices that have quite a bit of capital in them, all you need to do is contact a factoring lender.

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