More and more businesses using invoice finance are protecting themselves against bad debt caused by the failure of one or more of their customers.
Lorna Wilson, company secretary, BNB Fabrications who provides sheet metal fabrications in stainless steel and aluminium to industrial customers said:
“We have had several companies go into liquidation owing us money. Without Bad Debt Protection (BDP) from The Royal Bank of Scotland Commercial Services they could have taken us with them. We could have gone under through no fault of our own. Experience of bad debts is something most people in business share, and BNB Fabrications certainly had to write off debts in the past. Now, however, it is no longer an issue.”
