Time Finance provides £50k invoice finance facility to TBOS

Time Finance has provided a £50,000 invoice finance facility to Cheshire-based recruitment business TBOS Healthcare Solutions, helping the start-up strengthen cashflow and support its growth plans.

Founded by recruitment professional Josh Brown and based in Wilmslow, TBOS Healthcare Solutions supplies temporary and permanent staff to organisations operating across mental health, addiction and homelessness services.

The facility has been structured to support the recruitment firm’s working capital requirements, allowing it to access funding against approved invoices and meet the weekly payroll commitments associated with placing temporary workers.

Like many recruitment businesses, TBOS pays temporary staff before receiving payment from clients, creating a gap between payroll and incoming revenue. The invoice finance facility enables the company to unlock cash tied up in unpaid invoices, providing greater liquidity as it expands its client base.

Time Finance said the funding has allowed the business to maintain cashflow, take on additional contracts and continue scaling its operations.

Andy Hume, Head of Sales (North) at Time Finance, said: “For many start-ups, access to the right specialist solutions in the lending market can be limited.

“Major high street banks typically base facility arrangements around historical financial data and available collateral, which can leave many new businesses without a trusted funding partner to help facilitate their plans.

“It’s been a pleasure working with Josh to understand the nuances of his business and how cashflow and invoicing work day-to-day. Solutions such as invoice finance are a no-brainer for growing businesses. By offsetting the invoices as they come through, Josh can focus on what’s important: growing his business and new client base, rather than chasing unpaid invoices and managing cashflow challenges.” 

The funding has also helped TBOS meet the requirements needed to access Matrix, a major recruitment platform, supporting the company’s efforts to win new clients and accelerate growth.

Josh Brown, CEO of TBOS Healthcare Solutions, said the facility had transformed the business’s ability to manage cashflow and focus on expansion.

“Before having this facility in place, cashflow was a real challenge for the business, but it’s been made much smoother and we can now focus on growing our client base and building the business from the ground up,” he said.

“Since putting this invoice finance facility in place, we’ve taken on our largest client to date, with whom we now have an exclusive partnership.”