We were approached by a company earlier this month looking for a combination of trade finance and invoice discounting as they had just received a substantial contract that they would have difficulty in funding.
Whilst I’m sure we would have no problem placing the business in principle this chap refused to divulge the name of his company, the name of the customer or any other details whatsoever and the only meeting that he would agree to was in a motorway services station.
Number two was involved in the construction industry, turning over a couple of million with only a few major customers. When asked if she could let the factoring company have sight of the contract the toys flew right out of the pram. I didn’t realise that there would be so much work involved said she continuing that she wasn’t sure that she wanted to bother any more.
What makes it worse is that there are still ten more days to go in October