Ultimate Finance has provided an invoice facility of £150,000 in order for a company to create 100 new jobs before Christmas.
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div>Ultimate Finance has provided an invoice facility of £150,000 in order for a company to create 100 new jobs before Christmas.
Glasgow-based Virtue Recruitment Services Ltd supplies temporary drivers for Class One and Two HGVs and has only been operating for a month.
Ultimate arranged the facility, with bad debt protection, allowing Virtue to draw down 90% of the value of the invoice within 24 hours of it being issued.
Virtue co-founders Stuart Craig and Jody MacMillan, who have more than 20 years’ experience in the haulage sector, set up the company in September having identified the need for quality drivers.
This has resulted in Virtue attracting six blue chip companies in the first few weeks of trading.
“The success has come quickly and we cannot thank Ultimate Finance, and especially (Regional Sales Director) Lynsey Innes, enough for providing us with the invoice finance facility,” said Stuart.
“With companies taking up to 90 days to pay and our drivers being paid weekly, we would not have been able to cover the cost in the interim and the business wouldn’t have got off the ground.
“Lynsey was also very helpful in recommending accountancy firms and putting us in touch with other successful companies within the industry so we could talk to them about their experiences.”
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