Invoice financing service for the recruitment sector

opt for an invoice financing service for your recruitment company

specialist Recruitment Finance Division, within Lloyds TSB Commercial Finance, exclusively serves the requirements of staffing companies. This specialisation enables Lloyds to bring together in a single team all the knowledge and expertise they have within this sector. Through their dedicated Division they can provide an end-to-end invoice factoring solution and their in-depth understanding of the industry means they are able to provide the right financial package for recruitment companies of all sizes and in all sectors. Whether you supply permanent or temporary staff Lloyds' Invoice Factoring and Confidential Invoice Discounting solutions will enable you to expand your business with the confidence that your cash flow will match your outgoings.

Receivables factoring & invoice discounting for start-up Recruitment Companies

For recruitment businesses with payroll and billing systems already in place and recruiters making permanent placements, Lloyds Invoice factoring and invoice discounting solutions provide funds that grow in line with your sales. The key service features are:

You will receive advances of funds against your unpaid invoices up to 90%+ of their face value paid to you within 24 hours.

The balance is made available to you after your clients have settled the debts.

Optional protection against bad debts.

Optional credit management/credit control services.

If your business does not have a payroll and billing system in place Lloyds' fully outsourced back office and payroll finance service is likely to be the ideal choice for you, taking care of all the key administrative tasks and ensuring compliance with tax and data protection legislation.

Receivables factoring & invoice discounting for established Recruitment Companies

For established staffing companies with well established administrative systems and, in particular, effective credit control, the key features of Lloyds' services are:

Advance of up to 90%+ of the value of your invoices notified to Lloyds through their online system.

Lloyds' involvement is not disclosed to your clients and you are responsible for collecting payments from them and administering the sales ledger.

Lloyds TSB Commercial
Finance new Business Charter

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Their Service Pledge
If at the end of the initial six months you are dissatisfied with your invoice discounting or invoice factoring services you may claim a refund of the service fee you have paid during that period. All that is asked of you is the opportunity to resolve any concerns that may occur during this time.

Their Termination Pledge
You will incur no termination fees if you choose to close your invoice factoring or invoice discounting facility at any time. All you have to do is give 28 days notice of your intention to terminate, and ensure that all outstanding balances are cleared by the termination date.

Their Operating Pledge
The cost of all transmission charges will be paid by Lloyds' if they fail to make a payment to you as instructed on the same working day, whether due to an error or banking system breakdown. Lloyds will respond to any written or verbal complaints with an initial reply within 1 working day, and a full reply within 3 working days. Every full reply will be reviewed and approved by one of the Directors before it is sent to you.

Receivables factoring for the Recruitment Industry

Every recruitment company should consider using an invoice financing service. This can be an invaluable method of sourcing and managing funds, especially for recruitment firms running temp desks that incur huge weekly wage costs.

Stephen McCarthy - New Recruitment - Oxfordshire

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Main benefits: Thanks to their expert invoice financing service for recruitment businesses, Lloyds TSB Commercial Finance can give more than 90% of their unpaid invoices to both under creation and existing recruitment companies. With Lloyds you get the assurance to find the right invoice financing service package.

Key figures

Creation year : 1967
Companeo Agreed Supplier since24/02/07
Staff : 1000

Geographical coverage

National coverage. Main Offices in Manchester, Banbury & Southampton. Regional offices in Glasgow, Edinburgh, Birstall, Bristol, Cardiff, Plymouth, Maidstone, Cambridge, Leeds & Birmingham. Spain, France, Germany, Ireland and US Registered office in Richmond, Surrey.

Presentation of Lloyds TSB Commercial Finance
Lloyds TSB Commercial Finance is the UK market leader in asset based lending. For over 40 years we have offered businesses the flexible finance that comes with Factoring & Invoice Discounting. Lloyds TSB Commercial Finance currently provide funding to over 14,000 UK businesses of all sizes.

Activity
Factoring improves business cash flow by releasing money against unpaid sales invoices. Lloyds TSB Commercial Finance advance up to 90% of the invoice value within 24 hours after you raised the invoice. The remaining balance is made available when your customer settles the outstanding invoice. The service is especially suited to new starts, growing businesses and those with insufficient security to gain more traditional lending. Flexible credit management is built into the agreement with statements and reminder notices issued to reduce the administrative burden on the business. Assistance with telephone credit control can be provided if required.

Main clients
Over 14,000 clients from startups to Multi Nationals.