Placing both temporary and permanent staff across a variety of industries, APG Recruitment has over 40 years’ experience in the business, witnessing first-hand the changing market.
Ensuring a fluid cashflow to pay contractors on time is key for APG Recruitment; which is why they chose Calverton Finance to support them with finance, collections and a bad debt insurance facility.
Here we speak to Graham Betchley, Managing Director, about how specific recruitment finance facilities has helped his own business and why you should consider a similar course of action.
How has Calverton Recruitment Finance Helped Your Business?
First and foremost, Calverton Finance has given us peace of mind when it comes to our cashflow and finances. We manage a lot of temporary contracts and as a result these quality contractors need paying weekly; however, many of our clients have 45-day payment terms.
It’s essential we pay our contracting team on time; not only do they deserve it, but we need to maintain our reputation as a leading recruitment agency that has the interests of both our clients and contractors as priority.
What was your Objectives for your Facility?
Above everything, we need to manage our cashflow. As we grow, so does our demands on our cashflow, and more burdens from later paying customers. As a successful recruitment agency, we need to ensure cashflow is always available, not only to cover our everyday operational overheads but also to pay our contractors.
What’s the Biggest Benefit of your Facility?
By having a tailored finance facility in place, we are able to grow the business. We can actively recruit new clients and new contractors; all of which costs money and the need for working capital for investment into advertising, promotions and new members of staff.
We can appoint more and more contractors into placements, knowing we can draw down on funds to pay them promptly and cover operational costs even though we might not receive payment from the client for 6-8 weeks after.
What are your Facility Highlights?
Knowing that Calverton Finance have been providers of recruitment factoring and payroll finance for many years meant we were sound in the knowledge that Calverton actually knew and understood our business.
We start each and every day safe in the knowledge that we trust Calverton and how capable they are.
What has your Facility Allowed you to Achieve?
We’ve been able to organically grow our business; despite the fact recruitment has suffered from turbulent times of late. We have some of the best contractors in the region and we can keep them because we are able to pay them on time. We are able to take on new clients without the fear of damaging our cashflow or working capital reserves due to the Bad Debt Protection Calverton offer us.
Do you feel more in Control of your Finances now?
Yes, most certainly. We have financial stability; we aren’t at the mercy of late paying customers and we can actively expand thanks to the Bad Debt Protection.
What has Exceeded your Expectations?
Over and above the team at Calverton. They talk about the Calverton Culture and they have every right to. They are genuinely part of our team; the relationship they have built with us is so workable and proactive; together we are growing APG Recruitment as a team. I cannot fault Calverton; they are flexible, accommodating, understanding, reliable, dependable; and most importantly always available at the end of the phone to assist us if there are any queries or discussions to be had.
Would you Recommend Calverton Finance?
Wholeheartedly, yes! I cannot fault them; if you need recruitment agency finance you really should call Calverton Finance.
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Graham Betchley | APG Recruitment