Key points
Work completed for clients
Outstanding invoices awaiting payment
Luxury timepiece provided as security
Background
Business Owner C had completed work for clients and was waiting for outstanding invoices to be paid. Although the invoices were expected to be settled, the timing created a temporary requirement for additional business capital.
Solution
Following assessment of an eligible luxury watch collection, a £15,000 Asset-Backed Business Finance facility was provided against the assets. This gave the business access to funding while it waited for the outstanding client payments.
Outcome
Business Owner C accessed funding against a watch they owned, providing capital while waiting for outstanding client invoices to be paid.