This engineering company, based in Staffordshire, is a one-stop-shop for manufactured items of all kinds. The company assembles fabricated and machined components using a wide range of available finishes to meet customer's precise specifications. They supply complete products through their own nation-wide delivery service.

The company was growing rapidly and required additional working capital to fund the increase in new business.

Karen, the company's accountant, says, "We were very keen to have invoice discounting. We wanted to expand the business and at the same time have real peace of mind concerning cash flow. We are very close to our customers and continue to invest a lot of time in these relationships that we have worked so hard to foster. The fact that nobody knows about the nature of the funding we use is critical to us. Having a confidential facility that gives us control over our collections and credit control processes and procedures provides our customers with confidence."

Whilst a company of this type and size would not 'normally qualify' for invoice discounting from the bank-owned finance houses, SME Invoice Finance believed that this was the right facility.

SME considered the deal on its individual merits, looking at the qualities and experience of the management team and the professionally administered accounting systems. Satisfied with these criteria, SME delivered a £50,000 invoice discounting line based on a 70% invoice prepayment level.

Karen also feels that the quality of service they receive represents good value, "I'm an accountant, I used to have my own practice and I am familiar with the terms available in the market. I would say that we have obtained a good deal overall package from SME Invoice Finance including the benefit of a competitively priced facility."

It's the personal and proactive approach that SME has applied to the day-to-day working relationship that has made such a positive impression on Karen, "We were recommended to SME Invoice Finance via a business contact. Now we can see why. The main thing that we were looking for when selecting a commercial finance company was direct access to the decision-makers. With SME, I know exactly where I stand when drawing down from our availability of working capital and can always pick up the phone and talk to someone in authority about any issue concerning the business. I don't have to face any of the concerns of being passed from 'pillar to post' within an impersonal banking call-centre. We feel that we have got to know the SME auditor who visits us and that we can discuss any problems openly as soon as they arise. We also appreciate that SME's motivation is always to be there to help and support us. Ultimately, 'communication' is the key word that I would use to summarise what marks out SME Invoice Finance's unique approach to service delivery."

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