Premier Invoice and Asset Based Lender Venture Finance has provided recruitment specialists Trillium Associates with a Factoring facility combined with the added security of Bad Debt Protection. The package, worth £100k, will give the company the immediate cashflow boost needed to see it through its initial start-up period, as well as shield it from these turbulent times.

Founded in March 2009 by Alex Hathiramani, Trillium Associates places contract workers within the construction and maintenance sectors. With traditional lenders currently tightening credit criteria, Trillium required a financier that was bold enough to provide flexible, fast access to finance, despite the current economic conditions.

Despite the fact the company hadn’t yet received its CIS license due to the fact it was newly formed – Venture wasted no time in providing an interim Factoring solution to boost cashflow and give the company a kick-start. Venture’s funding will then increase once the license is in place. From the initial meeting on a Tuesday morning, Venture Finance provided Trillium with the funding package on the following Friday – just four days later.

Venture’s Factoring service has already enabled Trillium’s management team to focus on growing the business – with the employment of a new key member of staff at such an early stage. Growth plans have also been implemented including the development of a strong client base with quality contractors and a desire to provide stability and security for the construction and maintenance sectors.

Venture’s Bad Debt Protection alongside the Factoring facility will give Trillium added peace of mind and will mean its finances are fully protected from unpaid invoices due to insolvency – a major threat to fledgling companies, especially in today’s environment.

Alex Hathiramani, Director at Trillium comments: “When you’re brave enough to start a business in today’s market you have your fair share of restless nights. Venture has helped to significantly reduce these and lets us concentrate on the task to hand. Its fees were also the most competitive, and it was prepared to offer a flexible package to give us immediate support with or without the Bad Debt Protection. The team has also been very good in assisting us with credit checking potential clients to keep bad debt and therefore stress to a minimum.”

Owen Bradbrook, Business Development Manager Venture Finance says: “It has been our pleasure to work with a company that has admirable ambition to start and grow a company despite the economic conditions. By providing a fast turnaround in just 4 days, we were able to beat competitors who were already in advanced talks with Trillium.  We also quickly provided a flexible interim solution that is specifically designed to support businesses such as Trillium as quickly as possible by understanding each and every one of its requirements."