Having a lender that just supplies you with working capital is often not enough in today’s challenging climate. These days, businesses are looking for more from their funder, including the requirement of additional working capital for those unexpected events. Here at Skipton Business Finance, we listen to our clients and pride ourselves in understanding the businesses that we partner with so that, when these unexpected events occur, you can be confident that we are better positioned to support you with any temporary increases in your facility. And it’s because of situations like this, coupled with our ethos of exceptional client care, that we have created our Headroom Facility.
With recruitment businesses often worrying about the uncertainty of costs in today's economy, it can lead to stress around supplier payments, paying contractors and staff wages - to name a few. Our Headroom Facility is designed to give you that extra breathing space at specific times in your cashflow cycle, ensuring you have enough liquidity to keep reaching your business goals. Used alongside your Invoice Finance facility, a Headroom Facility gives you flexibility to dip into additional funds of up to 10% of your Invoice Finance facility value.
Although your Invoice Finance facility gives you the security and reassurance of a consistent cashflow cycle, a Headroom Facility alongside this will allow you to negotiate any unexpected or upfront costs with added flexibility.
We understand that businesses may be apprehensive about approaching their funder for that additional headroom.
Our advice to you would be to not put off those difficult conversations with your funder, whether it be with Skipton Business Finance, or someone else. It is as much in their interest to see your business flourish as it is yours! This is why you should never be worried about approaching your funder for advice on whether or not you have the right facility… and at the right level.
If you are with a funder that really cares, they should bend over backwards to ensure that you have the right solution for your business. Your funder should always be there to listen and support you throughout your journey.
It may sound like a cliché, but we really do care about the businesses that we partner with. We’re part of the Skipton Group, where the core ethos is to build stronger relationships with the people, customers and the communities we serve. And that mission runs through our DNA, and we pride ourselves on the exceptional client care we provide, whilst constantly striving to keep our customers’ needs at the heart of everything we do.