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Medical Recruitment Agency’s North Star Objectives
Fast-Track Funding – To ensure a four-day deal turnaround from the first call to completion, facilitating a rapid injection of cash to address the increased payroll demands resulting from significant new contract acquisitions.
Certainty of delivery – To align the client’s funding requirements with a lender possessing extensive sector experience, minimising execution risk and enabling the transaction to be completed at pace.
About
A specialised agency in temporary and permanent medical sector recruitment.
Exploring the Opportunity
Following the closure of another recruitment business in the same area, the business successfully secured substantial new contracts. Unable to self-finance this expansion, they urgently required fast-track financing within a week to meet their increased payroll obligations. Time was a critical factor in the transaction from day one, necessitating the swift identification of the right lender and securing the required funding promptly.
Discovering the Outcome
The owner of the Medical Recruitment Agency commended the swift and seamless process facilitated by Pathfinder Invoice Finance: “We met with James Bingham and provided him with a brief of what we required for our recruitment agency. He understood our brief entirely and immediately knew which of the funding providers in Pathfinder’s network would work well for us. James made the introduction and arranged a meeting the same day with the recommended invoice finance organisation. The company he had recommended also understood our brief and knew the clients we worked for which made things progress quickly. The next day we had agreed terms and our first drawdown had hit our account within four working days from the initial meeting with James! We were extremely impressed with how quickly this was implemented and how smooth the process was. I would highly recommend James and Pathfinder Invoice Finance to anyone that was looking to implement factoring for their company.”
Dean McGarry, Commercial Director at Team Factors, commented: “Following the demise of a local recruitment firm, the client was presented with a lucrative opportunity to take on several key contracts. They needed an invoice finance facility within a matter of days because they lacked the requisite cash flow to fund the increased payroll. Pathfinder Invoice Finance contacted us since they recognised our experience within the sector and our ability to complete the deal in the required timescale. They swiftly supplied a comprehensive set of supporting information via their Accounting Integration Software. I checked everything through, and in around 15 minutes, I was confident in making the decision to fund the opportunity, subject to the usual due diligence process. Pathfinder’s approach is truly distinctive in the industry from a lender’s standpoint, and their methodology significantly streamlines the decision-making process. We underwrote and delivered the deal in 4 days, allowing the client to confidently pursue further exciting new contract opportunities.”
James Bingham, Founding Director of Pathfinder Invoice Finance, commented:
“This transaction was entirely about delivering cash at speed. The client urgently needed finance for growth and required a swift and reliable solution. This is an excellent example of how we work closely with lenders to craft tailored funding solutions that not only meet our client’s immediate funding needs but also provide a level of certainty that is paramount to our clients’ long-term success.”