(PRWEB) March 5, 2009
Venture Finance has provided Hounslow-based Top-Up Solutions with a Factoring facility to enable the young company to concentrate on growth during the critical early stages of its operation. The whole deal was completed within six days, allowing Top-Up Solutions fast access to finance just when they needed it most.
Top-Up Solutions supplies contract or temporary 'top-up' labour to recruitment agencies, specifically to help fulfil onerous staffing contracts, or meet periods of peak demand for their clients. This means the recruitment company does not have to introduce a competitive agency to its client in order to meet the requirement, as would normally be the case. Top-Up Solutions works directly and non-competitively with recruitment firms, and offers a supportive service. It has access to thousands of vetted European workers and specialises in the industrial sector.
Founded in mid-2008, Top-Up Solutions required funding assistance in early 2009 to embark on a particularly large contract, which would have stretched its existing financial capabilities. The management team at Top-Up Solutions were introduced to Venture Finance through a recruitment firm that had successfully used the premier Invoice and Asset Based Lender's services in the past. Highly experienced in the sector, Venture's team wasted no time in assembling a Factoring facility. The funding was made available within six days of the initial meeting, enabling fast access to finance for Top-Up Solutions.
Di Smith, Director, Top-Up Solutions comments: "Having a Factoring facility in place from Venture Finance has eased our cashflow pressures enormously. It is reassuring to have financial support from such an experienced partner in the staffing and recruitment field. Venture was very quick to understand our requirements - and the needs of our sector.
"Critically, in these tough economic times, Venture was able to provide us with access to funding very quickly indeed. This enabled us to move ahead with a crucial project. I have used other Factoring providers in the past, but Venture is streets ahead in terms of knowledge of our sector, professionalism and speed."
Phil Mcleod, Business Development Manager, Venture Finance comments: "It is great to be able to assist a company with a strong business plan. Top-Up Solutions' directors spotted a genuine gap in the market for a labour provider that serviced the agency, not the client. Given our experience in the recruitment sector, we were able to act quickly to deliver a Factoring facility that enabled the firm to move forward in its plans, without any delay. Time is, of course, money"
With the funding in place Top-Up Solutions can now take on larger projects, with the confidence that it will not be financially exposed. The management team can also concentrate on growing the company and expanding its customer base without distraction.