Sadly First Capital Factors Ltd has been placed in Administration. At this stage I do not know why this has happened as they appeared to have a good reputation and were profitable.
The company was funded by Leumi ABL - a very reputable company based in Brighton. It appears that Leumi ABl have been supportive towards the clients and are maintaining funding.
However there will be a number of companies who do not fit the ABL Leumi criteria and will need to find a new facility elsewhere.
I have no doubt that these companies will be hounded by brokers and other factoring companies. My advice to them is to take their time and not be rushed into signing up with another factor until the have had a chance to consider any proposals thoroughly.
Here at FindmeaFactor we do not hassle prospects but are well placed to give sound and balanced advice in these situations,
The company was funded by Leumi ABL - a very reputable company based in Brighton. It appears that Leumi ABl have been supportive towards the clients and are maintaining funding.
However there will be a number of companies who do not fit the ABL Leumi criteria and will need to find a new facility elsewhere.
I have no doubt that these companies will be hounded by brokers and other factoring companies. My advice to them is to take their time and not be rushed into signing up with another factor until the have had a chance to consider any proposals thoroughly.
Here at FindmeaFactor we do not hassle prospects but are well placed to give sound and balanced advice in these situations,
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