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Barclay Sales Finance
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Barclays Sales Finance is one of the UK’s leading factoring and invoice discounting providers much as Barclays is one of the top 5 retail banks. The growth of Barclays Sales Finance has been rapid due to factoring being viewed increasingly as a key service to the SME market and invoice discounting being key to larger businesses. Due to the size of the Barclays organisation and their excellent custmoer service Barclays Sales Finance are clearly seen as one of the UK's leading factoring and invoice discounting providers.
Barclays Sales Finances’ services are most suitable for the following industry types:
- Manufacturing such as plastic packaging products
- Wholesale such as stationery, giftware and novelties
- Transport such as haulage
- Temporary labour hire such as temporary staff agencies
- Business services such as security staff, cleaning staff and plant hire
Click here to learn more about factoring and invoice discounting.
Sample Case Study
This is a case study of how Barclays Sales Finance were able to offer a working capital facility in a fast, efficient and flexible manner.
This business - which must remain unnamed to preserve the confidentiality of its invoice discounting - was formed in the mid-1990s to exploit a niche market in the supply of unbranded pharmaceuticals to the National Health Service.
In its first few years, while the company was becoming established and medical licences were obtained, its growth was steady. By the end of 1998, turnover had reached £2 million.
Until that time, the business had relied on a traditional bank overdraft facility for its financing. However, its modest capital base meant that the further growth that was forecast would be difficult to fund through an overdraft.
Barclays Sales Financing therefore arranged a confidential invoice discounting facility with an initial funding line of £600,000.
By the middle of 1999, turnover had outstripped projections and the confidential invoice discounting facility had increased to £3 million. At the close of the year, turnover had increased to £10 million and the company returned pre-tax profits of £948,000.
Close monitoring of this expansion was essential to ensure that it remained under control. This was made possible by Barclays LedgerMaster, which provided daily updated information as well as email contact with the Barclays team.
The business was thus helped through a period of rapid development, where more traditionally funded businesses might have experienced major cashflow problems. Without the confidential invoice discounting facility, manageable growth would have been much slower. Profitability was further enhanced when the additional cash available also enabled the business to take advantage of supplier discounts.
Click here to learn more about factoring and invoice discounting.
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