invoice finance Case study


Back to contents Magnus Walker


Johnny Walker, co-founder of specialist recruiter Magnus Walker & Partners, went for MarketInvoice to remedy the problem of late-paying customers.


What is your cash flow issue? More than two-thirds of our revenue comes from placing senior level interims, some of whom are paid around £1,000 a day, and at the end of the month our interims expect to be paid on time. That means our financial exposure can be in excess of £20,000 a month per interim. Meanwhile our clients will typically pay us six weeks late so we need credit on demand.


Why did MarketInvoice work better for you than a conventional invoice financier? [Because of the online bidding process] the cost of credit is quite low and we’re not locked into any commitment. Also, some invoice financiers demand the entire debtor book to be financed but MarketInvoice is more flexible there. Finally, sometimes small businesses don’t


have the financial accounts to get factoring finance anyway. You often need three years of accounts, director’s guarantees and a good credit profile. n


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