VAT Funding for accountants

After receiving details on VAT Financing, a leading accountancy firm asked PFC to compare their cost of funding with their existing provider and found that they could save £’000s on interest payments.

The accountancy firm was looking to benchmark their current short term VAT funding facility with other market providers. After obtaining a quote from PFC, and comparing this to their traditional provider, the firm realised they could make significant savings on interest.

As most of our proposals are information based underwriting facilities, once we had received the firms’ latest accounts and personal details, we presented the application to one of our top-tier panel lenders.

In less than 4 hours, PFC had secured £88,000, emailed the documents and (upon receipt of the scanned signed credit agreement), arranged a same day transfer of the funds.

More importantly, PFC was able to save the practice thousands in interest, compared to their previous provider. Having been so impressed with the service, the accountancy firm referred another practice within the same group, who in turn now also use PFC to finance their VAT each quarter.