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Winning orders is not the big problem for many young businesses - it is finding cash to process them and keep the business going while waiting to be paid. This was a headache for Rachel Robarts after starting a clothing and design business in London in 1998.
'Unless you're born rich, marry rich or win the lottery, it's hard to get funding in this industry,' she says.
11/12/2001
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The management team of Myson Pumps, one of Europe’s largest producers of domestic pumps, has received an asset-based funding solution for an undisclosed amount from the Cambridge office of GE Capital Commercial Finance. The funding package has allowed the management team to acquire Myson Pumps from its parent company, Baxi Heating Ltd.
11/12/2001
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Leading independent finance firm Bibby Financial Services has been awarded a prestigious marketing prize by the Institute of Public Relations.
The company won a Gold Award for its ‘Business Basics” campaign in the Business-to-Business category, at the Institute’s Cream Awards held in Bristol.
The winning campaign was devised by Bibby Financial Services, Group Marketing Manager Diane Blinkhorn and Public Relations consultancy BCLO. The entry was judged by a panel of industry experts and evaluated in three key areas: excellence, creativity and results.
11/12/2001
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Fitch, the international rating agency, has affirmed Banco de A Edwards’ ratings at long-term 'A-' (A minus), Short-term 'F2' foreign currency ratings, long-term 'A-' (A minus), short-term 'F2' local currency ratings, individual 'C' and Support '2' ratings.
11/12/2001
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According to research conducted by the Bibby Group of Factors, time and again the festive season leaves small businesses high and dry as they fail to adequately prepare for the Christmas rush.”
The weeks leading up to Christmas often leave small firms over-stretched, under-funded and losing out on valuable sales as they struggle to meet surges in demand.
07/12/2001
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Close Invoice Finance Ltd, the factoring and invoice discounting subsidiary of Close Brothers Group plc, has purchased the book of Singer & Friedlander Factors Ltd.
Details of the transaction are, as yet, thin on the ground. BCR Publishing spoke to an employee of Singer and Friedlander who commented “We are moving out of the sector. The managing directors have decided that factoring is no longer core to our activities and the company’s factoring operations are winding down at present”
07/12/2001
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Figures released by the Spanish Factoring Association reveal that all industry players in Spain have a higher factored volume in the nine month period ended September 2001 than in the corresponding period in 2000. Overall, total domestic factored volume in Spain has risen by 37.43%, total international factored volume has risen by 16.8% and total factored volume has risen by 36.72%.
06/12/2001
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SunTrust Banks, Inc. today announced that its Receivables Capital Management unit, formerly known as SunTrust Bank Factoring, has opened a new office in High Point, North Carolina, and enhanced the management of its New York office.
05/12/2001
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In a bid to help motor dealers increase their finance sales, leading new and quality used vehicle finance specialist, Singer & Friedlander Finance Ltd, has adjusted its acceptance fee pricing strategy on finance agreements to enhance dealer sales.
05/12/2001
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After remaining relatively stable over the past three months, November saw the seasonally-adjusted Purchasing Managers’ Index (PMI – a composite indicator designed to provide an overall view of the manufacturing economy) fall to its lowest level since January 1999. The index recorded 45.6, down from a revised 46.5, signalling contraction of the UK manufacturing economy for the ninth consecutive month.
05/12/2001
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Lloyds TSB Commercial Finance in Birmingham has demonstrated its commitment to its long standing customer Sandwell Castings by arranging a finance package to enable the management team to buy the business from administrative receivers.
The 120 jobs saved are all based at the company’s foundry in West Bromwich where it manufactures aluminium and copper castings for customers in the automotive and heavy vehicles industry.
05/12/2001
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The latest research by the Credit Management Research Centre (CMRC) has revealed that British businesses have reported a significant decline in the time taken to pay outstanding invoices.
05/12/2001
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Lloyds TSB Commercial Finance has introduced its team of asset based lending specialists to an audience of professional advisers at a reception in London.
Ted Ettershank, managing director of Lloyds TSB Commercial Finance Limited, addressed an audience of over 150 and reinforced Lloyds TSB Commercial Finance's position as the only clearing bank with the capability to grow its share of the asset based lending market. In the past 18 months, it has carried out 70 corporate finance transactions using asset based lending and Ted foresees even more activity during the coming year.
05/12/2001
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Top supplier of childrens’ products Maclaren Europe Limited, is looking forward to rapidly expanding its UK and European business thanks to an invoice discounting service structured by David Brunton, Regional Manager at Lloyds TSB Commercial Finance.
The 35 year old business employs 55 staff in its UK operation in Northamptonshire, supplying buggies, changing bags, baby carriers and buggy accessories to nursery retailers in the European market.
29/11/2001
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Thanks to the factoring service provided by Alex Lawrie Factors, K9 2000 Security Specialist Dog Division will be able to grow its international business which specialises in providing guard dogs and dog handlers for security companies in the UK and America.
The Bedfordshire based company was started in July this year by proprietor Pam Hunt and has undergone rapid growth. The dogs are currently being used to protect property and help security operations detect drugs, bombs and weapons.
29/11/2001
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