Premier independent Invoice and Asset Lender, Venture Finance, has supplied Leicester haulage company, Emmagination Ltd, with a Factoring facility to provide the newly formed company with an important cashflow boost. To shield Emmagination against unforeseen unpaid invoices the package also included Bad Debt Protection.

 

Emmagination was born after a previous haulage company went into administration. The parcel and pallet haulage specialist was founded by former employees Gina Peckham and David Haynes. The pair saw that there was still potential in the customer base in the Leicestershire area and decided to take ownership of its assets.

 

Already familiar with Venture from a previous company, Managing Director of Emmagination Gina Peckham was impressed with Venture’s professionalism and the strength of the funding facility proposed: “Having a reliable Factoring service in place was critical to the success of our new company. When we met with Venture we were struck by how quickly and thoroughly they understood our business and the speed with which they came up with a suitable facility.

 

“Venture’s Factoring has provided us with the immediate benefit of improved cashflow;  crucially important in the  running of our day-to-day operations. It has also allowed us to focus on growing the company without having to commit time and resources to chasing payment of invoices. What’s more, having Bad Debt Protection in place provides extra peace of mind, especially in the current economic climate.”

 

Andy Hume, Business Development Manager, Venture, comments: “We were very confident of Emmagination’s success, given the experience of the management team and their sound business plan. We were more than happy to provide a Factoring facility to inject working capital into the business and allow the management team to focus on growth with confidence, safe in the knowledge they are covered from unpaid invoices.”

 

Venture’s Factoring service enables Emmagination to get paid as soon as its invoices are raised, regardless of when its customers actually pay, improving cashflow.  Venture's Bad Debt Protection offers 100% cover on the invoices raised. With over 100 years combined experience its award-winning team helps businesses weather any storm by offering expert credit guidance and total peace of mind.