Cashflow Help Offered To CFA Contractors
FINANCIAL support services to help flooring contractor members of the Contract Flooring Association (CFA) secure credit and improve cashflow has been launched in co-operation with the NSCC (National Specialist Contractors Council) to which the CFA is affiliated.
The new services will support CFA contractor members in fields, including credit insurance and the provision of retention bonds.
Support is also available in the form of a new ‘credit manager’ app called I Know My Customers. CFA members can download a trial version of for free.
n www.ikmc.com/ContentPages/Public/Landing Pages/SIG_Trial_HomePage.aspx
Developed by specialist software company Aronova Interactive, the app has been designed to help SMEs with credit control.
The app works with leading accounts packages and links a customer’s account and purchasing data to automatically give an overview of all customers and their respective risk and payment performance information. It also includes cash collection tools to aid cashflow.
To find out more about SIG’s financial support services, CFA members should
n Email: email@example.com.
Barclaycard: In another exclusive arrangement Barclaycard is currently offering CFA members a Business Credit Card to help them manage their cashflow. A Business Credit Card allows businesses to make necessary purchases when needed, but pay for them at a more convenient time and is therefore a way of potentially smoothing the ups and downs of cashflow.
Barclaycard offers CFA members benefits such as:
0% interest on purchases for the first three months;
No annual fee for the first year;
Up to 56 days interest-free on purchases;
£50 credit on opening your account (exclusive to CFA members)
Dominic Hanson, senior partnerships manager at Barclaycard, said: ‘We understand that many specialist contractors face cashflow challenges when it comes to payment and a Business Credit Card is one of the ways that they can help to address these. Having access to payments on credit card means that businesses can have greater certainty over the funds they have available.’
CFA members can visit the dedicated page on the Barclaycard website to learn about Barclaycard’s Business Credit Card and how to apply.
This article has been reproduced from the Contract Flooring Journal website. You can find them at www.contractflooringjournal.co.uk.