GMAC Commercial Finance plc, the UK's largest independent invoice finance and asset-based lending specialist, is celebrating the 20th anniversary of its business relationship with Manchester-based Avis Steel Services Limited.
Factoring is often seen as an alternative to bank finance to fund initial business growth for small firms or a short-term solution to cashflow problems in small- and medium-sized businesses. Invoice Discounting is provided for clients requiring finance but not sales-ledger administration or credit protection and is increasingly popular among larger businesses.
The Manchester office of GMAC Commercial Finance has worked with Avis Steel since its foundation in 1983 and is now providing them with a Ј6 million invoice discounting facility.