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Hi everyone,
I couldn't find a thread to introduce myself as a new member, but I am working with a a friend to start up a mechanic business/crash repair business and was looking for some advice and tips on the financial side of start ups.
We've got our startup capital and location sorted, and we have just recently begun operations. We are starting to come across issues with cash flow because we deal with insurance companies. Often we have to outlay a lot of cash to get the parts and pay the staff and regular expenses but it is sometimes taking months for the insurance money to come through for us.
We're looking into invoice discounting but unfortunately neither one of us knows much about it. This debtor finance place is the one we're considering.
If anyone has had any experience with Oxford funding or debtor finance in general, your help/advice would be much appreciated.
Thank you all
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