Venture provided the Sutton-based business with a Factoring funding facility which provides finance against outstanding invoices. The company was previously with another invoice financier who was unable to provide adequate protection. Venture was able to provide the flexibility in funding and cover to enable an increase in cash flow available, allowing the company’s security guards to be paid on time.
Alan Millard, Managing Director of AD2000, explains, “Our top customer can often provide up to 60 per cent of our business which means that a substantial number of security guards are working for them at any one time. The funding allowed us to increase working capital and provided protection for us, and our workforce, against any unforeseen late payments”.
AD2000, provides a range of security services, including static security, mobile patrols and events security, for clients including corporate bodies, business estates and government departments as well as private companies.
Mr Millard adds, “In the past, it has proved difficult for us to find a lender we are happy with but Venture has been excellent, they increased the level of funds available to us and took on responsibility for any potential debt.”
Owen Bradbrook, Business Development Manager at Venture Finance, comments, “Many lenders won’t provide cover to companies where one customer carries so much weight but, by working to fully understand the client, we were able to help AD2000 and increase the level of finance available. This will make the day-to-day running of the business easier as well as enabling the company to look towards growth”.
For more information, images or an interview with Alan Milard or Owen Bradbrook please contact:
Lauren Greatorex or Clare Granville at Man Bites Dog
01273 716 820
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About Venture Finance
Venture Finance is an award-winning independent Invoice and Asset Based Lender, established in 1989. Venture provides Factoring, Invoice Discounting, Export Finance, Structured Finance and numerous related services to start-ups through to £150m organisations. Providing consistent support via its 200+ staff and 11 regional offices, Venture helps clients manage cash flow, refinance, restructure, fund business opportunities and expansion, purchase new equipment and finance M&As. Venture is part of the ABN AMRO group and ultimately owned by the Dutch Government.