Is all Well at Close Invoice Finance?

Close Invoice Finance used to have a good reputation for service but things seem to have changed in recent years since the new broom took over the hot seat as we are hearing about rumours of discontent amongst staff to the extent that senior staff are leaving, substantial losses being taken in one of the regional offices and a very hard and inflexible line being taken with clients

Unfortunately when this Factoring Solutions Blog was ported over to the new software at the end of March 2014 the comments on blog posts were left behind so I have edited this post to include the comments that were made at the time…

John on 28th July 2009:-

What Close will present to you and what they deliver are worlds apart> Talk of 75-90% advance is total rubbish, you will be lucky to average 50%. Amongst a host of unscrupulous means , they adjust your funding limits, so they still take the charge on your processed invoices, but wont pay you out. I dont know if there is, but there should be a regulatory authority .. they are enjoying a thriving business on the back of the nervousness of the banks….. but they arent half ripping small businesses off, and are putting more in trouble than anyone. Steer very clear of independents… my advice is if you have to..stick with a factoring company associated with your bank if possible… at least there is communication and joined up thinking between the two … beware “Close” cause thats how your business will end up !i have lost everthing due to Cloc Factoring has anyone sued them over there unfair contract.please nobody should sign there garantees

Jane Sanders on 10th January 2010

Good afternoon to you all. Comment 4 above – yes people are suing them for absolutely disgraceful behaviour. Comment 3 – take care, because even the banks have been more supportive than SOME factoring houses that shall remain nameless. Comment 2 – remember, the key to what they are able (OR NOT) able to do at law lies in your contract. I am willing to bet that many of the things that you have all suffered are because our mutual friends have flagrantly breached their contract, but don’t care because they hold your critical cashflow in their hands. SIT UP AND TAKE NOTICE, YOU HAVE RIGHTS! USE THEM! Comment 1 – I know this was a while ago, but you do not necessarily have to incur huge costs to get out of your contract. Know your rights, and you can probably avoid this. Brief history – I act for a fellow businessman who has suffered shockingly at the hands of our mutual friend. All I would ask that you remember is that there are always things that can be done. It’s who you know – and the courage of their convictions of the person you do know. You now know me, and I’ve got enough for all of us. Get in touch. If I can’t help, I can certainly point you in the direction of cost effective assistance elsewhere. Here’s to a prosperous – and just – 2010.

Gray on 19th January 2010

Jane can I have your e.mail number

Jane Sanders on 19th January 2010

Ladies and gents – I’m at

Paul on 2nd October 2010

we had our business closed down by close and mcr,due to numerous errors on both their parts. we are still fighting our case and 4.5 years down the line we still have not managed to get to court. we will have our day in court. companies like these should have a health warning.

Mark on 23rd November 2011

Close Finance is putting my business in problems. Does anyone know if I can take legal action agaiast Close Finance, being trying to get payment from them for an amount that had been received by Close finance for my attention. For the last two weeks I have been told by Close Finance that payment will be in their next payment run which never seems to happen. I have had enough and considering taking legal action as very agree that payment has been received but delaying forwarding funds to us. I wilkl surely not use this company again, abd if you would like a speedy turn around for your cash flow, I suggest you dont either. Tired of making calls and hearing empty promises. I will send my concerns to the FOB and see what can be done. Anyone got any ideas what I can do?

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