Invoice Discounting meets the evolving needs of business

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Lloyds TSB Commercial Finance is proving just the right candidate for recruitment company. Fusion People credits its strong relationship with us to not only a robust finance solution, but the dedicated sector specialism we provide.

Invoice Discounting from Lloyds TSB Commercial Finance

Lloyds TSB Commercial Finance

We’re often approached by other banks, all professing to plans to expand their sector expertise. That’s great, but Commercial Finance has actually done it. We really value their input.

Identifying the right person for the right job is second nature for global recruitment specialist Fusion People. And they’re no less discerning when it comes to finding the right financier. Thanks to a partnership with Lloyds TSB Commercial Finance, Fusion People have been able to achieve strong growth during a tough economic period.

A client of Lloyds TSB Commercial Finance since launch in 2003, Fusion People credits its strong relationship to a robust finance offering, and the dedicated specialism of the Recruitment Finance division. “We’re often approached by other banks, all professing to plans to expand their sector expertise. That’s great, but Commercial Finance has actually done it. We really value their input,” says Managing Director Paul Metcalfe.

Fusion People has achieved significant growth. A bold acquisition strategy has more than doubled its turnover since 2010, to £83m. Support from Lloyds TSB Commercial Finance, which features a confidential invoice discounting facility, has been essential, confirms Paul. “Commercial Finance has delivered the flexibility we need. The facility has supported us through our early years, the challenges of recession, and a period of rapid growth.”

Stuart Talbot, Head of the Recruitment Finance division says, “We’re impressed by Fusion People’s strong management, and delighted to be part of the great journey they’re on. And we do understand their requirements. We’re the market leader in financing recruiters – we have 1,300 clients in this sector, with gross turnover in excess of £5bn. We live and breathe recruitment, just as our clients do.”

Fusion People remains ambitious, targeting £250m turnover by 2017. “Commercial Finance will help us achieve our goals,” says Paul. “The sector specialism is a massive differentiator, and they’re just as forward-looking as we are.”

Lloyds TSB Commercial Finance offers a number of smart invoice finance solutions to support businesses of all sizes. With over 40 years’ experience in invoice finance, Lloyds TSB Commercial Finance also offers a Recruitment Finance Division dedicated exclusively to staffing firms in the UK. Backed by the resources of the Lloyds Banking Group, they now lend to over 1,300 staffing companies including five Top 50 Firms and have extensive experience in payroll finance, billing, exits and MBO and AIM listings.

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