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How we helped a business to sell ... and start again

Posted: 1st October 2014

Back in 2001 a company approached us to help them with their cashflow.

The company helped foster carers with training and support. They invoiced local authorities for the work they did but they struggled to get paid in under 60 days from when they invoiced. They had staff wages and rent to pay which couldn’t wait and as they grew they found that their bank balance was dwindling.

It was not a usual deal for us in that they invoiced in the middle of the month and to start with there was only one customer. Because of this they had been turned down for an Invoice Finance facility by their bank.

We really liked the business and the management and despite the issues we provided a facility which gave them 80% of their invoices when they were raised. If you would like a quote or to speak about how we can help you, please Contact us here .

 

 

 New Business

Twelve years later the MD had set up another business helping disadvantaged teenagers who did not fit into the system. He set up training and support regimes for them and this began to really take off.

He found that he could not give the two businesses his full attention so he reluctantly decided to sell the fostering business. We helped him with the sale and also helped him finance the new business.

Fresh Start in Education Limited is booming and we continue to support them.

Antony has been really pleased with the service he has received from us over the years as his words below testify.

Client Testimonial

Anthony Meade"My name is Antony Meade and I am the Managing Director of Fresh Start In Education Ltd. We are a provider of specialist education and support to students who aren’t coping with regular education and need help to get them back into regular learning. We currently employ around 100 staff. Before this I was MD of Family Matters Fostering Ltd, a medium sized therapeutic fostering agency I founded in 2000 and sold in 2013.

I have been working with Calverton Finance since April 2001. I have been in business on my own account since I was 23 and for over thirty years have worked with a fair number of large and small banks and factoring companies in a variety of business arenas.

When Calverton asked me to comment on their service to Fresh Start In Education and Family Matters Fostering, I was pleased to do so. Why? Because they have been a genuine pleasure to work with.

They are every Director's dream when it comes to a financial institution. I have found them to be prompt, courteous, efficient and most importantly - flexible!! They have been able to give us a ‘deal’ that no other Factoring Company or Bank have been able to come near to in years - and quite a few have tried.

We feel that we get genuine value for money from their service. When I was getting to the point of selling the fostering agency, Calverton were very prompt and flexible over the timings and couldn’t have been more helpful - and, they didn’t charge me any penalty over short notice. When my Bank made an administrative error and froze the Fostering Agency’s current account, Calverton stepped in and, through another business account I had, ensured that the cash kept flowing. Without this we would, without doubt, have gone bust!

When I started Fresh Start In Education in 2011, Calverton had the account up and in running in days and cash flow has never been a problem.

If you currently use invoice finance and are dissatisfied with the service that you are receiving, or are considering factoring as a way of assisting cash flow I thoroughly recommend you contact Calverton.

All Banks may be equal, but not all Banks are the same - and the same goes for Factoring Companies! Calverton have provided the same level of commitment and service to us for over thirteen years now - and I have not experienced that level of consistency with any other financial institution that I have ever dealt with."

Antony Meade.
Managing Director.
Fresh Start in Education Limited 

www.freshstartforkids.co.uk