Venture Finance provides £250k factoring package

Venture Finance has provided Haines Distribution, a start-up supplier of plumbing and heating materials, with a £250,000 (280,000) factoring package that includes bad debt protection. The deal is the latest of a number of funding and factoring packages recently signed between UK businesses and the invoice and asset based lender, part of Dutch bank ABN AMRO. Stuart Haines, who launched the business together with his brother Keith Haines in February 2010, said: The factoring package will allow us to get off the ground and we are looking forward to growing the Haines Distribution workforce over the next couple of months.

By Antonio Fabrizio

Venture Finance has provided Haines Distribution, a start-up supplier of plumbing and heating materials, with a £250,000 (€280,000) factoring package that includes bad debt protection.

The deal is the latest of a number of funding and factoring packages recently signed between UK businesses and the invoice and asset based lender, part of Dutch bank ABN AMRO.

Stuart Haines, who launched the business together with his brother Keith Haines in February 2010, said: “The factoring package will allow us to get off the ground and we are looking forward to growing the Haines Distribution workforce over the next couple of months.”

Venture Finance business development manager Nick Russell added: “Having bad debt protection alongside the factoring facility will give Stuart and Keith added peace of mind and ensure they are fully protected from unpaid invoices.”