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|HH Cashflow Finance launches new short-term loan offer|
|Wednesday, 10 February 2016|
Businesses can boost growth and investment with a new short-term loan deal being offered by HH Cashflow Finance. The independent lender is offering invoice finance clients a working capital loan of up to £250k for up to six months.The loan will carry just a daily interest rate with no set up fees, review fees or service charges.
Businesses applying for the loan must prove in writing that they have an exit such as a big payment due.
The loan is ideal to plug a short-term funding gap in scenarios such as the sale of a property, awaiting a VAT refund, purchase of machinery, acquisition and late payment.
Richard Pepler, CEO of HH Cashflow, said: “This new bridging loan can provide businesses with an immediate injection of capital enabling investment and growth while avoiding a cash flow crisis.”
Businesses which have factoring or invoice discounting facilities with HH Cashflow can now apply for the loan. Set up by Henry Howard Finance Group in October 2014, HH Cashflow now employs 17 staff, who support large numbers of businesses across Wales and the South West.
HH Cashflow set out to provide more than £18 million funding to 80 clients in its first twelve months of trading. Having easily beaten this target, HH Cashflow looks set to advance £65 million to more than 150 businesses over the next 12 months.
The company is now lending up to £1,000,000 per client, up from the previous limit of £250,000. It offers invoice finance to businesses in any sector with turnovers of £100,000 to £10million.
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