News Article

Factoring & Invoice Discounting

Kent Quantity Surveying Practice Prepares for Growth

By CreditMan Friday, March 23, 2012

Release date: 23 March 2012

Kent Quantity Surveying Practice Prepares for Growth

Edenbridge-based quantity surveying practice, Bill Prep & Surveying Ltd, has secured a £100k funding facility through Invoice and Asset Based Lender, ABN AMRO Commercial Finance.

The Fast Track Factoring facility, arranged in just four days, will allow Bill Prep & Surveying Ltd to embark on a recruitment drive and invest in new bespoke software.

Co-founders, Ciara and Vince Hughes set up the company in 2005 and view the new facility as an opportunity to focus on new client acquisition and take the business to the next level.

Vince Hughes said: “We used to fund the business with a bank overdraft, but the need to constantly verify invoices was quite disruptive. The credit control facility from ABN AMRO Commercial Finance will mean our important contacts will be dealt with professionally and efficiently, allowing us to focus on growing our company.”

Bill Prep & Surveying Ltd approached ABN AMRO Commercial Finance directly for the Factoring facility. The total agreement time, from first survey meeting to final pay out, was just four days.

Tony Tydeman, Regional Manager at ABN AMRO Commercial Finance, comments: “It’s great to be able to support an ambitious company as they pursue growth. Turning the deal around in just four days means Bill Prep can push forward without delay.”

Bill Prep & Surveying Ltd's facility includes a six-month break clause with no tie in, often an important factor for those accessing this type of finance for the first time.


Further information

For further information or an interview with Tony Tydeman, please contact:

Xenia Kingsley or Lauren Greatorex at Man Bites Dog

0844 561 1416

About ABN AMRO Commercial Finance PLC (formerly Venture Finance PLC.)

ABN AMRO Commercial Finance is an award-winning Invoice and Asset Based Lender and part of the ABN AMRO Commercial Finance Group. Established in 1989, the company provides Factoring, Invoice Discounting, Export Finance, Structured Finance, Asset Based Lending and numerous related services to start-ups through to £250m turnover organisations. Providing consistent support via its 200+ staff and 11 regional offices, ABN AMRO Commercial Finance helps clients manage working capital, refinance, restructure, fund business opportunities and expansion, purchase new equipment and finance M&As.

About Bill Prep & Surveying Ltd