Go-Factor in Action · New start care business · Funding secured
New Start Care Business Secures £250,000 Invoice Finance Without a Personal Guarantee
Go-Factor secured a £250,000 invoice discounting facility for a new start care business after challenging the initial personal guarantee requirement and obtaining a further underwriting review.
The agreed facility provided a 90% advance against eligible invoices, with no personal guarantee required in the final agreement.
No minimum fee for the first three months of trading.
A New Start Care Business Working with a Local Authority
The business had the relevant registration and necessary framework agreements in place and was working with a local authority. The business owner was not a homeowner.
Go-Factor introduced two funders and obtained indicative offers the same day. However, the directors were unwilling to accept the personal guarantee requirements.
How Go-Factor Secured a Further Underwriting Review
Go-Factor challenged the personal guarantee requirement with one funder. Following detailed discussions, the funder referred the application back to underwriting for further consideration.
Following that review, the provider agreed to fund the business without a personal guarantee. Only one of the two funders introduced was prepared to agree to this arrangement.
Go-Factor’s continued involvement helped the business progress from indicative terms the directors would not accept to a funding agreement they could proceed with.
Specialist Invoice Finance Support for New Start Care Businesses
Invoice finance for new start care businesses is a key area of Go-Factor’s work. This case demonstrates the value of comparing funders, challenging initial requirements and continuing discussions through underwriting.
Explore invoice finance for healthcare and care providers or read about funding for new start businesses.
Don’t Flood the Market with Funding Enquiries
Multiple applications through different brokers and funders can create duplicate submissions and unnecessary credit searches. Tell Go-Factor who you have already approached so we can coordinate the next steps.
Start with one conversation. We help you understand, compare and secure suitable finance through a focused approach to appropriate providers.
Need Funding for Your New Care Business?
Contact Go-Factor to find out how we funded this client—and discuss funding for your new care business.
Tell us about your care service, customers, agreements and funding requirements, including any concerns about personal guarantees.
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Request Your Funding ReviewThis snapshot describes one client’s completed funding arrangement. Available funding depends on eligible invoices and the agreed facility terms. Personal guarantee requirements and other terms are assessed individually. The minimum fee concession did not waive all charges. Client details are withheld for confidentiality.