06.03.2019

Client Testimonial: Credit Protection

Stay one step ahead of bad debt

We know that your business relies on dependable customer payments and steady cash flow in order to thrive. The company is prospering, you’re focused on growth, but what happens when a customer fails to pay? 

Bad debt is, in today’s uncertain climate, having an increasing impact on the bottom line. With a credit protection package, these potential non-payments are covered.

Extra security, extra peace of mind. 

WHAT IS CREDIT PROTECTION?

Credit protection works in conjunction with your working capital finance facility to eliminate the risk of non-payments from credit approved customers. 

Along with our global insurance partner, we can structure a suitable solution to cover up to 100% of customer payment defaults, reducing bad debt provisions and replacing otherwise lost cash flow. 

BENEFIT YOUR BUSINESS 

- Free initial assessment of your customer, allowing you to make informed decisions on    whether to proceed with negotiations
- Facilitation of domestic and export trade through one standard agreement
- Competitive pricing
- Online system allowing for ease and effectiveness
- Direct access to our credit analyst team
- Access to credit information that may not be publicly available

MEET G. ENGLISH ELECTRONICS LIMITED  

G. English Electronics Limited (GeleC) is a family owned business founded by George English in 1975. Headquartered in the Royal Arsenal in Woolwich, GeleC is an established importer and distributor of high quality electronic components across the globe. The company specialises in bespoke rubber, plastic and metal parts, as well as thermal solutions and other standard components.

GeleC came to us  in 2006. With its products sourced from the Far East, the team had just opened a warehouse and logistics centre in Hong Kong. In order continue providing a first-class service to a growing client network, the management team were looking for a solution to bridge the gap between upcoming payments.

The funding released through an invoice discounting solution enables GeleC to invest in the business and offer its clients an enhanced customer experience. ‘We’ve been able to invest in new buildings, equipment and computer systems to benefit our clients,’ says Managing Director David English, son of George English.  bnp-707

With an added credit protection package, GeleC is safe in the knowledge that upcoming payments are protected. ‘Ultimately we are entrusting the safety of our business to BNP Paribas Commercial Finance - not something to be taken lightly,’ says David. ‘However, the experience of the team and the hard work and thorough research they put in means that we can rest easy in the knowledge that our finances are secure.’ 

Speak to our Credit & International team steve.morey@bnpparibas.com