Imagine a business with months of purchasing and manufacture but only one day of sales. Santa’s Grotto must be the most seasonal business in the world!
Think of all the upfront costs. Mr Clause has to find the cash to pay for all his raw materials and the wages of those busy elves, let alone feeding the reindeer and maintaining the sleigh.
And even with the most efficient team of elves in the world, making toys for all the children across the globe, even Santa can’t predict a major piece of toy-making machinery breaking or an unexpected vet’s bill. Where does the money come to pay for it all?
Well Santa might be able to rely on a bit ‘Christmas Magic’ to sort out his cashflow, but unfortunately your businesses can’t.
Seasonal businesses have nightmare cashflows. Stock needs to be ordered, employees need to be paid, and then goods are delivered and the invoices are raised – but there is still another 30-60 days before the cash comes in.
Invoice Finance certainly helps, but why would you pay for a year long contract when you have a 6 week cash requirement?
That’s when an ICON ‘In Case of Need’ finance facility from Calverton Finance comes to the rescue!
The ICON facility is set up well before any funds are actually required. A nominal fee is charged for managing the facility. The facility advances funds against your outstanding invoices, so as you soon as you start invoicing you can draw on the facility and have cash in the bank within 24 hours.
Many of our clients here at Calverton Finance have ICON in place – the innovative ‘In Case of Need’ financing facility. This reassuring facility gives instant access to funds when needed.
How it Works:
- Your ICON facility has a cash advance on stand-by for you to draw upon at any time.
- Advances range from £50,000 up to £500,000.
- A minimal monthly fee is payable on the facility.
- The facility advances funds against your outstanding invoices.
- If you draw on the facility you can also pay it back at any time.
- When the funds are repaid the facility reverts back to monthly management and is there when you need it again.
- If you don’t draw on the facility then that’s fine too, it simply provides the peace of mind and reassurance that it’s there if you need it.
There’s no worry about ‘will you, won’t you’ use the facility. The point is it’s there just in case. There’s no commitment to actually draw on the facility – you could have ICON for years and never use it, but what price can you put on peace of mind?
So give us a call today and see how we can arrange a tailored ICON facility specifically for your seasonal business needs. It’s quick and easy to set up, monthly fees are minimal, and peace of mind is at its maximum!