“In addition to solving our funding problem, YOOV Capital also helped us taking the first step of ESG practices with their Green Factoring solution, providing guidance on ESG planning and solution, as well as ESG audit report.”
ERIC LEE | EXECUTIVE DIRECTOR
Century Elite Technology is primarily engaged in solar energy systems, electric vehicle charging facilities, and smart grid engineering. When faced with the issue of fund allocation, they chose our YOOV Capital to arrange invoice financing, resolving the concerns of long payment periods and slow receivables!
Through YOOV Capital’s latest green invoice financing solution, they address cash flow pressures while promoting ESG development. They have introduced the YOOV WORK human resources management system to streamline various approval, payroll, and clock-in processes, implementing a paperless office and enhancing operational efficiency and transparency through digitization, taking further steps towards sustainable development.
“I would have no hesitation recommending YOOV Capital. They have a clear understanding of our business and the challenges we are facing. They are responsive, efficient, and flexible which meets our funding requirement that provides great supports on our growth plan.”
BENSON CHAN | DIRECTOR
Top Advance Limited is mainly engaged in trading of various industrial safety equipment & personal protective equipment (PPE) in Hong Kong. Established in 1989, the company is now the major distributors of top brands such as 3M, Deltaplus, Justrite & Safety Jogger etc. And the wide product range includes safety helmet, personal protective equipment (PPE), respiratory products, safety footwear & safety storage cabinets etc.
The customers of Top Advance are mainly large developers, corporates & governmental departments in Hong Kong with long payment terms over 60 days. The slow payment cycle had brought pressure to the company’s cashflow.
YOOV Capital’s flexible Factoring services has helped the company to improve its cashflow. With stable source of funding, the company is now able to feel confidence to accept the larger sales orders and even get discounts on large purchases. This has enabled Top Advance to secure more business opportunities and grow the business with confidence.
“YOOV Capital has given us the funding we needed to help grow our business. They have met our requirements from the very beginning and are professional and reliable.”
SUNNY SHEK | DIRECTOR
Sunny Hats Limited was founded in Hong Kong in 1993. The company is mainly engaged in manufacturing and trading of headwear for export. As a quality hat manufacturer, the company has 2 production units in China and Sri Lanka, offering wide range of hat styles from paper braid to felt, linen to cotton, wool to faux linen and so on.
Over the years, Sunny Hats has developed a good clientele in North America. The growth of the company is rapid but at the same time the increasing production costs has brought cashflow pressure to them. Also, the credit control is getting complicated due to time differences and languages barrier.
After choosing YOOV Capital as their funding partner, Sunny Hats is now able to handle the cashflow challenges which come together with rapid expansion much better. Another benefit of using YOOV Capital’s Factoring services is the reassurance of a credit control facility, which means all their customers are credit checked, helping to minimize their exposure to bad debt.
Mr. Tong is the Finance Director of a global recruitment company in the Asia-Pacific region. The company’s main business is providing outsourcing services for large enterprises such as listed companies, banks, and insurance companies in hiring personnel. They require a significant monthly cash flow to cover payroll, MPF contributions, and other operational and administrative expenses. However, due to their clients’ payment terms ranging from 30 to 60 days, the company faces a funding gap, causing cash flow to become increasingly tight and limiting their business development.
Mr. Tong began seeking financing solutions but faced limitations as the company did not have any properties in Hong Kong to use as collateral. Banks were unable to provide sufficient financing to meet the company’s substantial monthly expenses.
Finally, Mr. Tong found YOOV Capital, which offered accounts receivable financing services tailored to the company’s operational model and revenue. Under this financing arrangement, the company only needs to upload invoices each month, and upon verification, they receive 80% of the invoice amount, effectively resolving their cash flow tightness.
William runs a toy export business and owns a factory in Dongguan. The company’s annual turnover is over HK$10 mil, with large supermarket chain stores in Europe and America as main buyers. Taking advantage of the rapid development of online sourcing platforms, William’s business has grown fast and steady. His high-quality products and punctual delivery have earned reputation among customers that attracted some more larger buyers. However, the payment terms required by the buyers are getting longer and longer that gives pressure on their cash flow. Also the bank is hesitate to increase the credit limit in line with their business growth.
Through the Factoring service provided by YOOV Capital, now William can access to 90% of the invoice value in cash right after the goods are delivered. William can have sufficient funds to expand the factory to increase production capacity, accept new orders and enter new markets with confidence.
YOOV Capital’s Factoring service not only easily solved William’s cash flow pressure, the invoice collection service has greatly reduced buyer delayed payment situation, saving up William’s time and labour force to focus on business development.
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