Clydesdale Bank Creates New Invoice Finance Role

14/8/09

Clydesdale Bank has appointed Steve Gamlin to the role of Senior Partner Sales in the Bank’s South West Invoice Finance team. The newly created role will see Steve support the growth and development of Clydesdale’s Invoice Finance proposition by supporting the Bank’s Regional Director, Managing Partners and its network of Financial Solution Centres (FSCs).

Joining Clydesdale Bank in 2004 from Lloyds TSB Commercial Finance, Steve was nominated "Star of Stars" by the South West Region in 2007/08. This recognised his contribution to the delivery of Invoice Finance, where the business has more than doubled in size over the last 18 months.

Steve said: “This is an exciting role to be taking on particularly as Clydesdale Bank has recently launched a new Invoice Finance fund to support the SME community across the South West.

"The current economic climate is leading to pressure on cashflow for small to medium sized businesses, especially as their customers are taking extended credit terms. Invoice finance helps businesses to run smoothly by releasing a high proportion of invoiced values immediately.”

Invoice finance - sometimes called cash-flow finance – is a sales-driven facility which can be accessed online and enables business to obtain up to 90 per cent of the value of invoices they issue immediately with the remainder available when payment is received. The service means that businesses are not hampered by late payments as they have rapid access to funds to meet their regular outgoings.