Skipton Business Finance has provided a £350,000 invoice discounting facility to Bishop’s Stortford-based Invision Recruitment, enabling the company to expand its permanent placement services in the construction and civil engineering sectors.
Invision Recruitment, which currently places 30% of its candidates in permanent roles and 70% in temporary positions, aims to achieve a 50/50 split by 2025. However, longer invoice payment terms from larger clients created cashflow challenges that risked restricting growth.
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Skipton Business Finance’s facility allows Invision to access up to 90% of an invoice’s value as soon as it is raised, ensuring the business has the working capital to pursue its expansion plans. The funding package also includes bad debt protection to safeguard against potential losses.
Ian Jones, regional sales director for Skipton Business Finance, said: “We’re thrilled to support Invision Recruitment as they work towards increasing their permanent placements. By providing a flexible funding solution, we’re enabling them to focus on long-term growth and strengthen their strategy.”
Stephen Knight, Managing Director at Invision Recruitment, said the funding facility was a critical enabler for the business. “Invoice discounting is ideal for us, as we can access funds immediately rather than waiting up to 90 days. Skipton Business Finance made the process straightforward and efficient, allowing us to accelerate our growth,” he said.
The deal between Invision Recruitment and Skipton Business Finance was brokered by ABC Finance.
