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Funding Story: Labour Hire Company

Video Transcript

One of our clients, well one of the industries that’s predisposed to needing cash flow finance is labour hire. Because they have to pay their contractors every week, typically on a Wednesday night, but they may not see the cash flow from the invoices that they issue to their clients, who are using the labour, for between 30 and 60 days. So that is very very expensive, very constricting on their ability to grow a business if they don’t have a big balance sheet to fund that. We’ve got several clients in that space we’ve got one that was a startup, they came to us and they said we’re leaving a big labour hire firm to start our own one and we know we needed invoice finance from day one, can you service us? And so we’ve taken them on and from day one – they you know they had 6 consultants and now they’ve got about 30. And that was in a three-month process, there is no way they could’ve grown to that without cash flow funding.

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