A Bishop’s Stortford-based recruitment company, specialising in the construction and civil engineering sectors, is set to expand its permanent and contract placements with the support of a £350,000 invoice discounting facility from Skipton Business Finance.

Invision Recruitment, which currently places 30% of candidates in permanent roles and 70% in temporary positions, aims to shift this balance to 50/50 by 2025. However, the move towards permanent placements has created cash flow challenges due to the longer invoice payment terms required by larger clients.

To support its growth ambitions, Invision secured funding from Skipton Business Finance, allowing the company to unlock cash tied up in outstanding invoices and reinvest in business expansion.

FLEXIBLE FUNDING

The invoice discounting facility enables Invision Recruitment to access up to 90% of an invoice’s value on the day it is raised, providing working capital to sustain growth. The funding also includes bad debt protection, reducing financial risks associated with late or unpaid invoices.

Stephen Knight, managing director at Invision Recruitment, said: “We found it difficult when we discussed our plans and funding needs with mainstream lenders, as they made the process so complicated, whereas Skipton Business Finance ensured it was simple and fast.

“We are in an exciting growth period and invoice discounting is perfect for our business, as we can access funds from invoices straight away, rather than having to wait as long as 90 days to get the money.

“The bad debt protection facility also gives us peace of mind, as it guards the business against any potential losses which could impact on the business.

“With cash freed up, we are now able to help more candidates in finding full-time work in the construction industry.”

SUPPORTING LONG-TERM BUSINESS GROWTH

The funding solution was arranged by ABC Finance and will allow Invision to increase its permanent placement capabilities while continuing to support temporary roles in construction and civil engineering.

Ian Jones, regional sales director for Skipton Business Finance in the South East, added: “We’re thrilled to support Invision Recruitment as they work towards expanding their permanent placements. By providing a flexible funding solution, we’re enabling them to focus on growth and strengthen their long-term strategy.”