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.
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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.”
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